Just as everything seems to be getting better. Bitcoin slowly climbing , some alts not bleeding too bad... than BAM!!! All this FUD. Huge sell of on BTC. Puts us in an uncertain area. We are on the bearish side and we need to break on the bullish side or we will see some more downward movement. I think if we don't reverse here than we will see some pretty low levels. Hopefully it does not come to that.
Now to the chart!
Red is the resistance and obviously green is the support. We need to break the downward channel, get out of the 12 hour Ichimoku cloud and break the double top we fell from. BTC has some serious resistance levels. Tons of shorts have been placed on BTC around the 11500 area and TONS flowed in to short BTC yesterday. If BTC pushes up and liquidates all the shorts that may be the juice we need to push over the resistance.
We need a lot of Volume for BTC to move, if we push above I can see us pushing to $20,000 to start the year off. Big year for cryptos! Do not get left out
All eyes on BTC
Now to the chart!
Red is the resistance and obviously green is the support. We need to break the downward channel, get out of the 12 hour Ichimoku cloud and break the double top we fell from. BTC has some serious resistance levels. Tons of shorts have been placed on BTC around the 11500 area and TONS flowed in to short BTC yesterday. If BTC pushes up and liquidates all the shorts that may be the juice we need to push over the resistance.
We need a lot of Volume for BTC to move, if we push above I can see us pushing to $20,000 to start the year off. Big year for cryptos! Do not get left out
All eyes on BTC
Here is BTC on the 1 day, We have to break resistance and the 1D cloud, we have been rejected from it twice already.