Bitcoin Technical Analysis: IS THE BOTTOM IN?

Bitcoin Technical Analysis: IS THE BOTTOM IN?
November 28 19:29 2018 Print This Article

Bitcoin was able to break back above the critical $4,000 price point. It’s currently trading around $4,160. We’re seeing an uptick in volume, with buyers stepping in when price pulls back. This is at least a temporary sign of strength. 

Looking at the daily chart, we can see price broke above the 8 day EMA. If the daily candle closes above the 8 day EMA, it’ll be another positive sign the bulls are strengthening. 

Shorts are stacking, out pacing longs by about 20%. If this gap widens above 30%, we may see a major short squeeze. Conversely, if longs start to out pace shorts, we could see price drop back below $4,000…especially if volume drops. 

In today’s video analysis I discuss, where price may be heading next, traps to avoid, key areas to watch 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/profile/@workin2005) 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

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

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About Article Author

Workin
Workin

From retired airline pilot to full time crypto trader. Trading cryptocurrency provided the means to walk away from a demanding career to enjoy time focusing on what's important in life - family and friends. Helping others navigate the volatile crypto market is an amazing bonus.

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