Bitcoin rose out of the wedge it had been consolidating in over the past month. It’s now hitting resistance at $3,900.

Just prior to the decisive break out, market makers ran a stop hunt that pushed price up to $3,905 and back down to $3,775 before returning to baseline. This happened in under 30 mins.

As price has been on a slow uptick, shorts have been stacking.

Looking at the daily chart, we can see the Bollinger bands are starting to bottleneck.

In today’s analysis I discuss, key areas to watch, traps to avoid 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
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