Cryptocurrencies

Bitcoin Technical Analysis: On Edge…The Bullish and Bearish Case

Bitcoin is once again testing the top of what appears to be a bullish ascending triangle. In my last update we discussed expecting resistance around $5,350. Daily volume remains relatively strong at just above $13 billion.

Screen Shot 2019-04-20 at 10.14.42 AM.png

At the moment, most analysts are monitoring the 50 and 200 day MA. Will we get a Golden Cross?

Screen Shot 2019-04-20 at 10.17.51 AM.png

Shorts have been stacking over the last 48 hours while longs are dropping. This does suggest a break up…at least temporarily to liquidate short positions.

Screen Shot 2019-04-20 at 10.19.04 AM.png
Screen Shot 2019-04-20 at 10.19.37 AM.png

While things are looking good for bulls overall, the bears may not yet be done fighting.

In today’s analysis I discuss the bullish and bearish case for bitcoin. I tell you where I think price is heading in the short, medium and long term, as well as where my buy orders are waiting. We’ll also review traps to avoid and 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
Feature Image By: Saul Gravy

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