Hello Traders, As I said earlier in our announcement section Bitcoin breakout from all of the ranges of last 1000 days, Today its traded at $13,7xx.
Currently, Bitcoin hit the top resistance of last bull run which is at $13,8xx. If we see decline of the range then it would retest the previously established support level at given rectangle $12,6xx - $12,8xx
According to me, to make a best bullish structure Bitcoin should form a range or consolidation zone at this point between given two lines. The range is $1000 dollar range but its a good to have some time of consolidation here. It will define a pure bullish structure.
Monthly Candle: Bullish sentiments are there as last month was big green candle which suggest upcoming days are green.
New institution Investors: In last few months we have seen so many big investors are jumping into the cryptocurrency which also suggest there was a huge demand.
In short, by considering everything above Bitcoin is in good range. Atleast 2 weeks consolidation will make it more bullish.
Currently, Bitcoin hit the top resistance of last bull run which is at $13,8xx. If we see decline of the range then it would retest the previously established support level at given rectangle $12,6xx - $12,8xx
According to me, to make a best bullish structure Bitcoin should form a range or consolidation zone at this point between given two lines. The range is $1000 dollar range but its a good to have some time of consolidation here. It will define a pure bullish structure.
Monthly Candle: Bullish sentiments are there as last month was big green candle which suggest upcoming days are green.
New institution Investors: In last few months we have seen so many big investors are jumping into the cryptocurrency which also suggest there was a huge demand.
In short, by considering everything above Bitcoin is in good range. Atleast 2 weeks consolidation will make it more bullish.