Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Update from this post :
So far so good, nothing really unexpected. We definitely broke the last resistance.
The good news is the trend seems to get stronger and stronger. In fact, there is, as shown on the figure, the beginning of a volume spike. This straighten the uptrend and will help the price to rise again if it bounces off the next resistance. That makes the "worst" short term future scenario bullish. The best case scenario is btc price stagnating a few days in the next resistance, enough to gain momentum and break it.
Profits are in the buying side, of maybe a bit of selling if you expect some bouncy swings.
We are just digging through the resistance like it was butter. We will stay in the bullish channel until the next big PHAT resistance.
It's gonna be pretty nasty, this resistance took some pretty huge swing during and after the bullrun. It won't be the end if we bounce, but if we go through, I predict that we'll enter a full bull market for the next following monthes.
EDIT : 1 day candle reverse head and shoulder pattern emergence :
So far so good, nothing really unexpected. We definitely broke the last resistance.
The good news is the trend seems to get stronger and stronger. In fact, there is, as shown on the figure, the beginning of a volume spike. This straighten the uptrend and will help the price to rise again if it bounces off the next resistance. That makes the "worst" short term future scenario bullish. The best case scenario is btc price stagnating a few days in the next resistance, enough to gain momentum and break it.
Profits are in the buying side, of maybe a bit of selling if you expect some bouncy swings.
We are just digging through the resistance like it was butter. We will stay in the bullish channel until the next big PHAT resistance.
It's gonna be pretty nasty, this resistance took some pretty huge swing during and after the bullrun. It won't be the end if we bounce, but if we go through, I predict that we'll enter a full bull market for the next following monthes.
EDIT : 1 day candle reverse head and shoulder pattern emergence :