Asterix
Giá lên

Seller exhaustion will push BTC prices up

BITSTAMP:BTCUSD   Bitcoin / Đô la
I know there is a gazillion of TA indicators saying we 'have to" revisit 5-8k levels, or at least go briefly below 10k. TA rules are not the laws of nature, though, just useful tools to analyze eternal struggle between bulls and bears. I think this balance has shifted slightly, but importantly toward bulls recently. On the last sell-off, despite all of the Korea FUD, the volume was low, and the bounce back healthy. I think this move up would continue above the top of the current triangle, which upper limit is connecting 19k top and 17k top. This is an extension of my analysis published yesterday, where I called trend reversal early on . Happy trading and holding :)!
Bình luận: Bullish Mac cross-over on 4h chart gives further support to up-trend.
Called it too early, but I still think that the over-all trend remains bull and that buyers will prevail. Seems pretty close atm though.
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Currently, there are few sellers, but also few buyers. Several dumps pushed BTC price even lower, but 13.2k resistance is still holding. We will see. To move up we need much higher volume. Volume is picking up slowly with ~300BTC buy walls on Finex and 50M new tethers printed 2 h ago (first positive money influx since Jan4th). So there maybe some weakly positive signs, but generally we are still in the accumulation/distribution phase, with no clear trend on daily. Weekly chart is still very bullish, should be good time to add to long positions.
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I built the same chart man. I wont publish it though. good job by the way
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I hope for the first level of conventional wisdom, this would correct the market at least that much, it could build with some sidewards movement a stable basis by time. To high now would cause to low afterwards. A drop to low would also harm the image of BTC and crypto to the masses and prevent from new money coming in, at least ot would be shifted in time a lot. So i hope for wisdom.
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