Quote from: traderperspective on February 26, 2018, 04:48:51 PM

What is your take on BTC atm from a technical perspective? The current bottom was at 5.9k and around 5 days ago an upper resistance level of 11.7 made the price pull a little back again. Are we just playing a bit around testing resistance levels, and suddenly we blow all the upper levels and see prices skyrocket again?
Or is this a part of a longer correction where we are to see the price move sideways or in a downtrend for a couple of months while people get their optimism back again.

I know there is not one right answer to this and everything can happen.. But what is your take on the BTC market atm from a graph-perspective (fundamental is welcome as well!)?

Personally, I am very much in doubt. I do not like the current volume levels, on the other side I do not think the upper resistance levels will hold for very long, and when we are on the right side of 11.7 for good, I believe in blue skies - until next correction ;-)

My opinion is in line with your first suggestion. I think we are discovering new support levels and we seem to have found one around 9k. I think we will breakthrough the resistance at 11.5-12k in the next week to 10 days and then the price will move upwards to 13-14k. I think the next dip won't test 10k if this happens.

brushtooth

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