In my last update, I told you bitcoin had reached a decision point. It was pushed up against 3 areas of major resistance with a fair amount of volume. A breakout was clear, it was only a matter of direction.
Earlier today, bitcoin finally broke above the $4,120 resistance, reaching new 2019 highs. It did so with a major surge in volume…the likes of which we haven’t seen since January of 2018. Bitcoin finally found resistance just below the 0.618 fib level measured off the prior $6K breakdown in 2018.
This nearly $1K move happened in under an hour. There’s no question a lot of it was manipulation and market makers squeezing shorts.
While this is a clear win for bulls, beware of a bull trap. In today’s analysis I discuss traps to avoid, key areas to watch, where price may be heading next and so much more. I hope you find it helpful.
*Video Correction: At 15:05 I reference “Bull market”. Should say “Bear market”.
Video Analysis:
If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Workin
If you found this post informative, please:
Open an Account on Binance here:
https://www.binance.com/?ref=16878853
Support the Crypto Ecosystem with Brave Browser:
https://brave.com/wor485
Twitter handle is @Workin2005 and Facebook is https://www.facebook.com/Workin2005
Feature Image By: Saul Gravy
Get involved!
Comments