BTC is very bullish and has almost no bearish signals (except for the heavy resistance above).
Bullish signals:
1) Broke 2 year bearish diagonal trend line
2) Retested 2 year bearish diagonal trend line and flipped it into support
BTCUSD
3) In a strong uptrend diagnoal line that started back in 2016
4) Above all moving averages
5) Price is bought up on any small retracement
Bearish signals:
1) Strong upper resistance
Caution: Things can change in a heartbeat but everything is pointing to price going up and retesting 12K, 14K and then 18-20K
If you're reading this and price has gone above 12K, I would recommend waiting for a pullback (i.e. 15%, 20%, 30%, etc.) pullback. Also, any money invested, you should be prepared to lose or be prepared to lose 30% or more during 'correction' and 'retracement' moment.
BTC and all other cryptocurrencies are highly speculative and volatile. However, BTC is probably the more probably crypto that will go on since it is the foundation of all cryptos.
Trade at your own risk and this is just my opinion for entertainment purposes.
Bullish signals:
1) Broke 2 year bearish diagonal trend line
2) Retested 2 year bearish diagonal trend line and flipped it into support
BTCUSD
3) In a strong uptrend diagnoal line that started back in 2016
4) Above all moving averages
5) Price is bought up on any small retracement
Bearish signals:
1) Strong upper resistance
Caution: Things can change in a heartbeat but everything is pointing to price going up and retesting 12K, 14K and then 18-20K
If you're reading this and price has gone above 12K, I would recommend waiting for a pullback (i.e. 15%, 20%, 30%, etc.) pullback. Also, any money invested, you should be prepared to lose or be prepared to lose 30% or more during 'correction' and 'retracement' moment.
BTC and all other cryptocurrencies are highly speculative and volatile. However, BTC is probably the more probably crypto that will go on since it is the foundation of all cryptos.
Trade at your own risk and this is just my opinion for entertainment purposes.
