Bluephantom

Bluephantom

This is an update from my previous analysis, it obviously broke through the 10500 resistance line. It is now getting close to 70 on the RSI and will possibly have a pull back to (4).

Bluephantom

Using the bounce resistance level of the Bollinger Bands and the Ichimoku cloud. If this overall trend continues to be bullish I'd expect the breakout point to be around this location. If we find more resistance at $11K we may have more of the same for another month at least. If it gets to $13K before finding resistance we may very well be in for another decent...

Bluephantom

If it continues along this trend we may end up looking at a $3500 new Low for the year.

Bluephantom

I feel that this scenario is unlikely as the RSI hasn't shown any spikes in strength in either over sold or over bought in quite a while.

Bluephantom

I feel the market could still be bullish even though much TA is showing a turn in the market. With the recent news on cryptomarket acceptance in South Korea, It may be enough to push BTC through the $12k resistance.