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BTC/USD : The last breath of life or the awakening ?

Btc/usd : the last breath of life or the awakening?

BTC/USD : The last breath of life or the awakening ?

Btc/usd : the last breath of life or the awakening?

Hello everyone,
hope you are fine.

Well, it’s not too soon !!

After being in jail inside the Falling Wedge during 2 weeks, after have been compress, and especially, after the recent
interview with the SEC , bitcoin have finally success to breakout the Falling Wedge !

And now, goodbye 3200$ ? goodbye 2800$ ?

In my point of view, not at all.
It’s very strange, actually, after the bounce of much than 8%, we can observe : no volume , no volatility !
We have one of the lower volatility of 2019 !

Of course, the day isn’t finish and we need to wait 12 hours again.
But,it seems to be probably highly compromised to reproduce the same scenario as mi-december.

About technical point of view, we are not again in the Falling Wedge , but inside the descending channel .
bitcoin has break the daily MA20, and seems stabilized around the MA50.
The MACD indicator is ready for bull time.

I observe carefully the RSI : if we don’t succeed to break 60/70, we can expect that bitcoin come back in 3200$ quickly.

The key resistance is 3800$. If bitcoin break 3800$, we can expect the beginning of recovery / range.
Also, the key support is again the 3500$ area.

Published at Sat, 09 Feb 2019 13:18:39 +0000

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