Bitcoin is consolidating right on top of the $3,600 support zone. Should price decisively break below $3,600, the next relevant area of support is between $3,400 and $3,250.

In my last EOS update, I pointed out the larger wedge it was consolidating in. I told you it would likely make a larger move as EOS approached the apex. The following day, price broke down from $3.00 to as low as $2.30. It then sightly rallied to the $2.45 support zone. EOS continues trading around $2.45 at the time of writing this update.

In today’s video analysis I discuss, where prices may be heading next, traps to avoid and so much more. I hope you find it helpful.

Video Analysis:

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!

Workin

Disclaimer: I am NOT a financial advisor and this is NOT financial advice. Please always do your own research before investing. 


Your Remaining Votes (within 24hrs) : 10 of 10
24 votes, average: 4.96 out of 524 votes, average: 4.96 out of 524 votes, average: 4.96 out of 524 votes, average: 4.96 out of 524 votes, average: 4.96 out of 5 (24 votes, average: 4.96 out of 5)
You need to be a registered member to rate this.
(4666 total tokens earned)
Loading...

Responses

  1. AD

    May I ask you a question, brother? Where did you study your TA? I’ve always been interested in TA. In fact, I’d like to rebrand my Youtube channel and introduce some crypto project. What are you using to make your videos?
    I’m not sure about BTC becoming bullish if it stays above 3600$ I can see it go up to 3800 for a while and then crash badly, but I speak like a poker player not a specialist in TA.

    (1)
    1. Workin2005 Post author

      I’ve been trading for many years, but only seriously for about the past 2 years. I had a good friend who day traded full time. He mentored me and the rest is history.
      I don’t use anything fancy to make my videos…just Quicktime for the most part. I may upgrade one of these days.

      As far as becoming bullish if price remains above $3,600…I think you may have misunderstood. I said if bitcoin can break above $4,100 (on Coinbase) I’ll become much more bullish. That would put it above the golden pocket I discussed in the video (watch from 12:25 to 14:10 in video). That’s where most of the resistance is at the moment. A decisive break below $3,600 would likely mean a drop to at least the next major area of support between $3,400 and $3,250.

      Hope that clears it up. Thanks for stopping by my friend!

      (0)
  2. CryptosDecrypted

    Thanks for the sound TA update @workin2005…does feel range bound atm. Still just watching this one..though I did pick up a little more EOS…got a feeling in my investor bones sometimes you have to go with the bones 🙂 but only sometimes!

    (1)
  3. James Diegel

    Thanks for another great update Workin2005! It’s sometimes unnerving being bullish on bitcoin (and crypto) longterm knowing full well there are so many hurdles for the bulls to really take off again. Personally I expect to see a few more of those Bart Simpsons around the 4100 mark before we actually make it through 🙂

    (1)