I was about to write a big analysis on bitcoin’, but i hope you understand me when i am saying it’s just a waste of time.
I think that curved pattern on the left is legit now. On the right we are turning slightly up, we just need a candle close above the red . So no more Bart moves or whatever nonsense. The past 2 hours it seems something is going on, i posted about it in my channels and have been moving up 20/30 points since, so could be real and not just noise. ETH’ is getting pumped big time, others are slowly crawling up as well but i think the whole market is waiting for to break the 3700ish, which has been the real turning level between bear and bull for quite some time now.
To keep the story short and simple for the short term, i would watch the red and green zone on the right. With the green being the support of that curved blue line and the red being the resistance around 3610/20, which has been the resistance since the first time we saw a Bart move a week ago.
Anything above 3450/80 can still be a version for the start of this possible impulse wave up. Of that breaks, it could be game over. But i think if the 3550/500 breaks, it will probably be over already. I don’t think the market can handle a drop below that .
Most important factor of all, we need to see the increase much more. It has been increasing today, so the current battle could be real, but we need much more than this. But that will probably happen above the 3620/50. But if it happens, the bull need to hold their levels, no wicks!
If we break the 3700/3450 zone, i will write a normal analysis again.
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Published at Sun, 17 Feb 2019 23:01:01 +0000
