Bitcoin has been consolidating within a falling wedge these past couple weeks. Today it broke out of that wedge with a nice increase in volume behind it. Volume is no where near where it needs to be for a sustainable bull run, but that’s not to say it can’t get there.

EOS broke above the known $2.45 resistance. The next major area of resistance is $3.00. If it can remain above at least $2.70 today, it could be a sign this bullish move has legs.

Ethereum bounced nicely off the known $100 phycological support. It’s currently trading around $118. The next major area of resistance is $123 (Bitfinex).

Ripple broke out of it’s falling wedge and found resistance at $0.32. A break above $0.35 would signify a major shift in overall momentum in favor of the bulls.

In today’s video analysis I discuss, trade entry and exit points, 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

Published On TIMM:

 


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Responses

    1. Workin2005 Post author

      All depends on whether or not a safe onramp is created for institutional money. If/when that happens, bitcoin will skyrocket almost over night. Until that happens, the bear market is likely to continue with small bounces here and there.

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  1. CryptosDecrypted

    Dammit ate all my popcorn immediately! As usual – excellent, balanced analysis of BTC price action @workin2005. I missed most of it – my hub laptop decided to die last night -mucho expensive SDD replacement, repair fees + 12rs of reinstalling later – and I’m all but ready to go! Going to be picking up pieces for awhile 😉

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