Welcome to another analysis of daily Bitcoin chart. Looking at the chart, it is clear that there is another bear flag is forming and it will test logrithmic support line in next few hours. This will be an ultimate support line for Bitcoin, and failure to bounce back from this line will send Bitcoin to $6000 or even lower.
Although Bitcoin is dropping in last few days, I want you to pay attention the Bitcoin volume (blue square). The volume in that range is nothing comparable than the volume we have since March 9th. This is clear signal that Bulls are starting to accumulate some money. When Bitcoin reaches to logrithmic support, expect huge spike.
Although Bitcoin is dropping in last few days, I want you to pay attention the Bitcoin volume (blue square). The volume in that range is nothing comparable than the volume we have since March 9th. This is clear signal that Bulls are starting to accumulate some money. When Bitcoin reaches to logrithmic support, expect huge spike.
Comment:
Dragonfly doji is starting to form. This could be the reversal that we have been all waiting for!!