BTC/USD has put on a great show today as we jump up to the $4800 range, about 15%. This clears the top of the downward channel in BTC that has been relentless for the last year or so as the bears have been dominate until only recently. This is a good sign that Bitcoin has bottomed and we can look upward in the coming months and year. The next major milestone is $5200 marked in red as our next resistance. LTC, something I keep a close eye on has also done very well in the last day or two and even grown 40% in the last month. So the bulls are looking to regain some much needed ground.
For the coming weeks there is a chance that we see a bull flag form around the $4700 area which would set the stage for a push to $5000s and hopefully upward.
I am very much a beginner and just want to make observations and learn from them! My simple analysis is for fun and learning, please do not make trading decisions based on my observations - like I said I am just a beginner.
Thanks so much for reading my analysis, please follow me and like my post!
- Max K.
For the coming weeks there is a chance that we see a bull flag form around the $4700 area which would set the stage for a push to $5000s and hopefully upward.
I am very much a beginner and just want to make observations and learn from them! My simple analysis is for fun and learning, please do not make trading decisions based on my observations - like I said I am just a beginner.
Thanks so much for reading my analysis, please follow me and like my post!
- Max K.