MarkMcCartney
Long

BTC Ready to explode

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
As you can see from the daily chart , Bitcoin has reached a turning point. Solid long-term support from below and at the end of a wedge formation. Any day now Bitcoin will have to make a decision and I expect it to be the start of the next bull run for Bitcoin and Crypto as a whole.

Bitcoin is classed as a 'Currency' but is traded as a 'Commodity'. What you need to remember is there is only a limited supply of Bitcoin and with rarity comes increased value.

My expectation for Bitcoin is to next head for $54500 before another correction.
Oct 16
Comment: Price exploded as expected. We did manage to break the daily 200EMA but we still closed below. There was a lot of buying pressure and I feel the drop after was not actual short-trades but actually profit-taking for a quick trade.

The very positive side though is we have closed ABOVE the wedge.

I am still bullish.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out