Will Bitcoin Conquered $9,000 Or Move To $3,000 (MA200 In-Play)?

19 Jan 2020

I just wrote about Ethereum (ETHUSD) and wondered if Bitcoin will follow the same path...

Right now it doesn't look like it...

We can clearly appreciate that Bitcoin (BTCUSD) is moving higher but we can also see a rising wedge, curving indicators and volume is low, ETHUSD is showing good volume.

EMA300 has been conquered recently on low volume, so if the bulls don't push prices up fast, BTCUSD is likely to move lower to test this level of support.

Our target when looking at the chart below was MA200, which is being hit...

Do you think that Bitcoin will go higher or will it retrace before the halving while the altcoins continue to increase?

My view is that Bitcoin will release some of the attention while the rest of the market also grows.

Namaste.

20 Jan 2020

Nota

Looks like a peak has been hit. Bitcoin going lower.