Target : 12.5K
1) low volume bottom, no sellers willing to sell sub 9K, and we know many buyers are waiting for 8-7K.
market has to rally.
2) new bottom found after a long draw out correction, during which accumulation appears to have taken place.
3) a new support trend line can be drawn by connecting the 1 & 2 bottoms, However! this new trend is not tested, a new more aggressive trend appears!
now BTC has encounter resistance line, and has CLEARLY broken the aggressive support trend line, yet we see 0 bearish action, only sideways with consistent volume.
everyone is waiting to see where this goes before jumping on board, i think we all know where this is going...
massive move is hours away now. I believe the market is waiting for more dumps, and or 0 selling pressure, before moving up.
Target : 12.5K
1) low volume bottom, no sellers willing to sell sub 9K, and we know many buyers are waiting for 8-7K.
market has to rally.
2) new bottom found after a long draw out correction, during which accumulation appears to have taken place.
3) a new support trend line can be drawn by connecting the 1 & 2 bottoms, However! this new trend is not tested, a new more aggressive trend appears!
now BTC has encounter resistance line, and has CLEARLY broken the aggressive support trend line, yet we see 0 bearish action, only sideways with consistent volume.
everyone is waiting to see where this goes before jumping on board, i think we all know where this is going...
massive move is hours away now. I believe the market is waiting for more dumps, and or 0 selling pressure, before moving up.
Target : 12.5K
