Good Evening Traders,
Adding on to the previous update, we can see that the bull flag and follow up prediction seems to be becoming reality. We wicked to $8800 at the top of the BBands touching the Fib level before touching the Span A Ichi Cloud and currently continuing the uptrend. We barely retraced and the Stoch reset to oversold, meaning for the next few days we should see some upwards momentum. This is of course if we can break into and hold the 4 hour Span B cloud, which is looming greatly in the distance. If we can get to ~$9155 with good buy volume then it will be very likely that we see a breach of $10,000 in the future, as we would get out of the cloud on the daily. On the opposing view, we're in a downwards channel on the daily which can be seen very clearly using bar candles, and the idea that we're - in a larger timeframe (daily) - forming a bear flag and heading towards $7800 support at the bottom of the Span B daily cloud is very possible. That level is very strong, and if we were to get there it would be a great buying position. Bitcoin should be making moves soon. All the best with your trading!
Written by:
Philip Raytburg
Research Analyst
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Adding on to the previous update, we can see that the bull flag and follow up prediction seems to be becoming reality. We wicked to $8800 at the top of the BBands touching the Fib level before touching the Span A Ichi Cloud and currently continuing the uptrend. We barely retraced and the Stoch reset to oversold, meaning for the next few days we should see some upwards momentum. This is of course if we can break into and hold the 4 hour Span B cloud, which is looming greatly in the distance. If we can get to ~$9155 with good buy volume then it will be very likely that we see a breach of $10,000 in the future, as we would get out of the cloud on the daily. On the opposing view, we're in a downwards channel on the daily which can be seen very clearly using bar candles, and the idea that we're - in a larger timeframe (daily) - forming a bear flag and heading towards $7800 support at the bottom of the Span B daily cloud is very possible. That level is very strong, and if we were to get there it would be a great buying position. Bitcoin should be making moves soon. All the best with your trading!
Written by:
Philip Raytburg
Research Analyst
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.