Bitcoin has been pumping in the past few days pretty massively. Why? There are 2 main reasons – the first reason is that Bitcoin has finished a major WXY corrective wave, and the second is that Bitcoin swept liquidity below a triangle (see my previous post for details). That was a very good opportunity to buy/long Bitcoin at that specific level I described in the previous analysis. But let’s focus on the present and future!
We always want to find strong levels on the charts so we have a great entry point/take profit target. The next strong level is definitely the 0.618 FIB, which Bitcoin can hit in the very short term. Also, below the 0.618 FIB, we have a strong horizontal zone, which can also act as a strong resistance. Bitcoin should definitely go there and retest this zone.
We want to see how Bitcoin is going to react in the zone and FIB, but you can create a new limit order to short Bitcoin there so you don’t miss anything. So currently I am temporarily bullish on Bitcoin, and in the next update I will make a big analysis on Bitcoin and a very likely scenario for the next months. What will the price of Bitcoin be in December? Please like/boost my idea right now.
Write a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
