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!


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    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.

  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 😉