After this fall this morning alot of people were surprised no doubt, however if you know how to trade the trend you seen this coming. My opinion is that if we maintain a price of $3,700 (*on Bitfinex specifically) $3,500 USDT on Binance seeing how bulls defended the price as we did on the 27th of December would form a double bottom on the 4 hour. I would expect a bullish impulse in response to retest the bears resistance at 4,000 and possibly see even higher highs on this ascending triangle.
High risk high reward
Bullish entry price ($3,701 BITFINEX:BITCOIN) ($3,501 BINANCE:BITCOIN)
Bullish target ($4,480 BITFINEX:BITCOIN) ($4,250-$4,300 BINANCE:BITCOIN+++)
Bears need to breakdown this triange a clear break of will send us tumbling with velocity. $(3,500USDT BINANCE:BITCOIN) or ($3,700USD BITFINEX:BITCOIN) would indicate new lows which is also exciting!
Bulls need to maintain defense of support and push for higher highs and wait for volume.
High risk high reward
Bullish entry price ($3,701 BITFINEX:BITCOIN) ($3,501 BINANCE:BITCOIN)
Bullish target ($4,480 BITFINEX:BITCOIN) ($4,250-$4,300 BINANCE:BITCOIN+++)
Bears need to breakdown this triange a clear break of will send us tumbling with velocity. $(3,500USDT BINANCE:BITCOIN) or ($3,700USD BITFINEX:BITCOIN) would indicate new lows which is also exciting!
Bulls need to maintain defense of support and push for higher highs and wait for volume.