Hello Gentlemen!
Here is my analysis of BITCOIN/USD.
There are two possible scenarios of bitcoin price movement.
=> Bullish Scenario:
It is more likely to happen as there are news coming this month.
AS combined with TA it looks like this.
BTC Formed the bearish gartley and it was necessary to go down and retrace to 0.618 fibo level which was around $13000
A spinning top has formed there which is engulfed by another candle.
All indicators are giving bullish signs. Macd crossover happening.
TTM SQZ also showing bullish sign. STOCH RSI has crossed the 50 pivot.
The next resistances are around $14600, $15490 and $16440.
Bearish Scenario:
The other scenario is that btc breaks the suppport and then it will go down to $11200 possibly.
Have a good day guys. Keep following, commenting and upvoting. See ya with some new analysis and info about the cryptocurrencies.
