Today once again we are going to talk about Bitcoin as it recently created a new all time high. As usual if you have been following my blogs you already know that I always use the same chart for my analysis.
In the screenshot below you can see the chart that I use along with the trend line we drew recently. Today we are also going to draw a new trend line but before that let us take a look at the lines we drew during my last Bitcoin and overall crypto market analysis.
From the screenshot above you can see that Bitcoin successfully broke its resistance and is currently trading above it. Not only that but it also created a new all time high. So we saw it breaking the major resistance where the previous all time high was observed.
Now I will share a new chart with the latest resistance, the one that was broken after which Bitcoin created its new all time high. By looking at the screenshot below where the chart at the one hour time frame is shared with the new resistance, we can clearly see that the recent all time high might actually have been a manipulation. It seems to have been created mainly to liquidate future traders.
Therefore we should observe the market carefully over the next few days to see if Bitcoin can maintain its price above this resistance. For now the price is trading below that level which means Bitcoin needs to break it again to confirm true strength.
In the screenshot below you can see the wick that caused the liquidation of future traders. In the zoomed in version of the chart it becomes quite clear that this move was more of a manipulation. So even though it created a new all time high for Bitcoin, in my opinion the real all time high is yet to be seen.
The interesting thing is that altcoins are still trading near their recent lows. Even after a massive ten percent pump in Bitcoin we have not seen a similar rally in altcoins. This shows that the current market strength still lies with Bitcoin.
For now I am just going to hold my bags and wait patiently for a proper altcoin rally.
This section is for the games I play on Hive blockchain. You are free to skip this section if you are not interested in reading about the games here. In the screenshot below is my terracore base where you can see that I have 5 attacks and few scraps mined already.
I used six of my attacks from the TerraCore base, and you can see in the screenshot below that I waited for a while, but the screen kept loading and the result did not appear on the attacking screen.
So I closed it and went to my profile, where I was able to see that I earned around one thousand scraps from these six attacks. I am really happy because the attacks went very well.
Thank You and make sure to check Crypto Company CEO services as I recently shared in my blog. You can simply click on the picture below and it will take you to their official website.
