Cryptocurrencies

Bitcoin Technical Analysis: Price Exits Wedge…NOW WHAT?

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

Screen Shot 2019-03-15 at 3.19.06 PM.png

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.

Screen Shot 2019-03-15 at 3.23.22 PM.png

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

Screen Shot 2019-03-15 at 3.30.56 PM.png

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

Screen Shot 2019-03-15 at 3.36.08 PM.png

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

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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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