MikeMoh

BTC what is going to happen next ?

BITFINEX:BTCUSD   Bitcoin / Đô la
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Hello guys, so back to our main analysis based on 2 MAJOR trends.

after the great bull run we had a SHY close above the down trend. this may not be strong enough but we getting far from the up trend and building stronger support lines which is good for the up side. i expect a correction to re test the downtrend from top before another bounce up.

areas are colored to show you the potential resistance, first step is towards 9000$ to clear the red area, we sure are going to bounce from 8800-9200. is it is an important Fibo level as well as last higher high.

alternatively we could go down again to test 6600$ where you can buy more and more on that strong support, but i doubt that.

the overall market direction is not clear, a break above the double top at around 11500-12000$ will indicate a BULL market, also a break below 6500$ will indicate a bear market.

this was an overall view on the market, we do not have a great signal to enter now in either directions, we are in GREEN on other alt coin trades and we have just close our BTC trade with about 20% profit which is great, time to take a small break and wait for another signal.
Bình luận: The daily candle just closed. and it looks very bearish ! . the fact that we lost momentum could indicate a false break out. but nothing is clear yet, we shall see in a few hours !
we keep our trades with very very tight SL and wait for today's close.
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