Bitcoin Price Analysis: The Breakthrough Is Possible, But Will Be Difficult
The past week did not bring any special surprises and generally passed under scenario described in the previous issue of our analytical analisys. At the moment there is a consolidation and accumulation of volumes for the further upward movement.
For a long time BTC/USD traded around main resistance levels of $9 200 and $ 9 800. Reaching a level of $9 800, the rate has sharply jumped aside against the background of massive sales and fixing of profit...https://en.bit.news/bitcoin-price-analysis-breakthrough-possible-will-difficult/
The daily chart is unchanged. The movement is developing within the framework of the third wave. We need a shock impulse like the one on April 12th/
The past week did not bring any special surprises and generally passed under scenario described in the previous issue of our analytical analisys. At the moment there is a consolidation and accumulation of volumes for the further upward movement.
For a long time BTC/USD traded around main resistance levels of $9 200 and $ 9 800. Reaching a level of $9 800, the rate has sharply jumped aside against the background of massive sales and fixing of profit...https://en.bit.news/bitcoin-price-analysis-breakthrough-possible-will-difficult/
The daily chart is unchanged. The movement is developing within the framework of the third wave. We need a shock impulse like the one on April 12th/
I agree with the bigger picture on your analysis, that we are in a bull trend and that we will move past 10k.
But on the lower time-frame (about 1 week) I disagree with your prediction of an impulsive move that will break current resistance levels.
In my oppinion the trend is loosing momentum and we will see a short period of down- or sideway movement, before the next resistance will be challenged.
I also doubt that we will go from 10k to 16k without another correction.