Cryptocurrencies

Bitcoin Technical Analysis: CONSOLIDATING BEFORE NEXT MOVE

Since my last update we’ve seen 2 small stop hunts. Price briefly broke down to $3,650, then promptly returned to $3,800. It then quickly jumped to $3,910 before promptly returning to the $3,800 support. This kind of thing is often seen prior to a larger move.

Screen Shot 2019-03-02 at 5.42.14 PM.png

Zooming in on the 4 hour chart, we can see the Bollinger bands are extremely tight. The 8, 21 and 55 day EMA’s have converged almost on top of each other. This is another indication price is getting ready to move.

Screen Shot 2019-03-02 at 5.44.03 PM.png

In today’s video analysis I discuss, where price may be heading next, traps to avoid, a possible short term trade strategy and so much more. I hope you find it helpful.

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

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Twitter handle is @Workin2005 and Facebook is https://www.facebook.com/Workin2005

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