Simply sharing thoughts of what may possibly play out in the future. It appears as though we no longer have much supply (people willing to sell). Which resulted in the beginning of a mark-up with a sign of strength above resistance that was previously around $4,200. I do not anticipate us falling down to $4,200 again because they likely think most believe we will fall to it to test it as support. I'm also expecting us to test the 21 EMA in the 12h time frame eventually BEFORE last week of May or first week of June. Which is when I believe we begin to go up and through the $6k price level to approximately $7,800. Why? So that when we fall back down to establish support, they will make support around $5,500 with a trading range between $5,750 and $6,500 until last week of September to first week of October where we begin with an up-thrust again to show sign of strength to a establish an even higher trading range.
Bottom line, it appears we just don't have as many willing to sell. We have most more interesting in buying/accumulating than selling. It would not surprise me at all to see them deny people the opportunity to get in at $4,200 or lower. I could be wrong with that synopsis but we will find out in the near future. I still expect us to come down to test the 21 EMA in the 12h time frame. However, the 21 EMA in the 12h may be well above $4,200 by the time we see a dip downward.
Going to have a look at indicators now.
Bottom line, it appears we just don't have as many willing to sell. We have most more interesting in buying/accumulating than selling. It would not surprise me at all to see them deny people the opportunity to get in at $4,200 or lower. I could be wrong with that synopsis but we will find out in the near future. I still expect us to come down to test the 21 EMA in the 12h time frame. However, the 21 EMA in the 12h may be well above $4,200 by the time we see a dip downward.
Going to have a look at indicators now.
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BTCUSD - Bitstamp / BTCUSD Shorts BitFinex / BTCUSD Longs BitFinex:
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2-Day TF:
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Made a correction with the Gray Text Bubble. This is NOT the 2-Day TF. It's the 12h TF:
