Bitcoin is following bullish channeling, but many are confused where this will continue.
If we look at bullish channel, we can say this is just slow movement untill market flow change to trend, but before that buyers has to test targets at 8000$ where is next channel touch. If momentum will be enough strong then this might be a good opportunity to hold funds to 8500$. After all, before any decision made, price has to break important level such as 7200$ and retraced from it.
7200$ is channel that failed from bearish side, and buyers will turn this channel into trending flow on lower timeframe.
But remember, even if bullish happen, this is still everything in bearish overall trending crash. Retracement from sellers is needed, but depends upon a time.
If buyers got distracted, we might see sellers power after so many failed attempt. Sellers continuation will follow after breaking 6700$ and after that, we have to be sure if sellers have already power or we have to wait fow buyers retracement.
Bearish targets are following to 6350$ which presented channel touch. If sellers are enough strong, we can follow second bearish target to 5500$.
That's all for now. For more info we'll give new updates. Don't forget to subscribe and follow, if you wanna get updated
Cheers,
Elitefxacademy
If we look at bullish channel, we can say this is just slow movement untill market flow change to trend, but before that buyers has to test targets at 8000$ where is next channel touch. If momentum will be enough strong then this might be a good opportunity to hold funds to 8500$. After all, before any decision made, price has to break important level such as 7200$ and retraced from it.
7200$ is channel that failed from bearish side, and buyers will turn this channel into trending flow on lower timeframe.
But remember, even if bullish happen, this is still everything in bearish overall trending crash. Retracement from sellers is needed, but depends upon a time.
If buyers got distracted, we might see sellers power after so many failed attempt. Sellers continuation will follow after breaking 6700$ and after that, we have to be sure if sellers have already power or we have to wait fow buyers retracement.
Bearish targets are following to 6350$ which presented channel touch. If sellers are enough strong, we can follow second bearish target to 5500$.
That's all for now. For more info we'll give new updates. Don't forget to subscribe and follow, if you wanna get updated
Cheers,
Elitefxacademy