Bitcoin Technical Analysis: BULLS EYEING $6,000
Bitcoin has impressively held onto it’s gains over the last 5 days. It continues to find resistance right around $5,350. Over the last few days price has created a series of higher lows backed by daily volume well above $15 Billion. If new weekly highs are achieved, the next area of major resistance is between $5,900-$6,000.
Earlier today, price retested the prior weekly high of approximately $5,350. This triggered many of the stop losses on short positions...about 27% to be exact.
In today’s analysis I discuss where price may be heading next, market psychology, traps to avoid and so much more. I hope you find it helpful.
Video Analysis:
If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Workin
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Feature Image By: Saul Gravy
nice analysis ;)
Thanks @kingscrown
If this upwards momentum can be maintained, I see us settling in the $6100 - $6200 region until the next major price movement.
I think it’d stay between $5,900-$6,000, but would love to see consolidation above $6K.
Sooner or later it will for sure. Once we have consolidated there we will have the real base for the next launch. At the moment I think we'll hit $6k, retrace around 15-20% and then climb back to do that consolidation.
Agree...that's what I called for in the above video.
Thx for another great update. Looks like i perfectly timed my vacation :-)
Haha...glad to hear it. Thanks for stopping by @conceptskip