Bitcoin Technical Analysis: My Long Rant

In my last update, price was sitting just below the $5,350 resistance. I discussed the possibility of a short squeeze, saying should that happen, $5,800 is the likely target. Today we did see an attempt to liquidate shorts as price pushed above the $5,350 and $5,600 resistance, hitting the $5,800 target almost to the dollar.

Screen Shot 2019-05-03 at 8.34.38 PM.png

Even with a $450 rise, shorts remain stacked and stubborn. This leads me to believe we may test $6,000 (and possibly wick above it) to try and liquidate short positions before seeing a larger correction. Daily volume is approaching $20 billion.

Screen Shot 2019-05-03 at 8.52.14 PM.png
Screen Shot 2019-05-03 at 8.57.19 PM.png

Todays analysis is a bit longer than usual. We discuss bullish and bearish scenarios, where my buy targets are, key areas to watch, what the golden cross may mean to short term price action and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM ( 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.


If you found this post informative, please:


Open a free account on Binance here:

Get paid for viewing ads and Support the Crypto Ecosystem with Brave Browser. Free download here:

Twitter handle is @Workin2005 and Facebook is
Feature Image By: Saul Gravy

Related posts

Crypto Shopping Cart – 22 May

Bit Brain

Two Minute Crypto – Something is Rotten in Crypto – The Influencers


Is Bitcoin Preparing for a Breakout?


Get involved!


No comments yet
Skip to toolbar