BITCOIN, Broke the major resistance and going up

28 Mei 2019

We all know that BTC has formed an up-trend. However, recently Bitcoin just broke through the major resistance ($8500), exactly from this resistance the market started dumping to $3000 in the 2018 year. This fact makes BTC growing twice stronger.


The next closest resistance is located in the zone $9300 - $9400. Moreover, at the 1D chart, RSI has formed a divergence. By the way, Stoch. RSI just came out from the oversold zone, so RSI still has time to form a third top from the resistance (as mentioned on the chart), either it will be a simple double top which is divergence too. The closest support zone is located in the zone $8200 - $8500, there you can confidently open a LONG position.

In case 1-5-ABC pattern will work out, the price will form a H&S pattern that will BTC dump lower to $6000 levels.


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29 Mei 2019

Nota

In order to trigger stop losses, close the gap and draw fake breakout, this movement is quite possible. This will be the fuel for the 10k ride.