Hello,
There is an opportunity in Bitcoin now. The uptrend still has great momentum. The drop in prices was reversed quickly, a long wick printed on the daily chart. This long wick was also coupled with heavy volume. As you can see that last time volume was that heavy, bitcoin was at a local bottom. Price is also showing a flag pattern that retested a previously broken trend line. This pattern has broken out aggressively giving us a good buy signal.
Target is the inverse 1.618 extension.
The heavy volume tells me that large buyers bought this dip and will now begin pushing prices again.
Best of luck,
Alex
There is an opportunity in Bitcoin now. The uptrend still has great momentum. The drop in prices was reversed quickly, a long wick printed on the daily chart. This long wick was also coupled with heavy volume. As you can see that last time volume was that heavy, bitcoin was at a local bottom. Price is also showing a flag pattern that retested a previously broken trend line. This pattern has broken out aggressively giving us a good buy signal.
Target is the inverse 1.618 extension.
The heavy volume tells me that large buyers bought this dip and will now begin pushing prices again.
Best of luck,
Alex