Bitcoin To 6k In The Next Few Weeks ?

What's up guys so this is the update of my last post on bitcoin where I was saying that bitcoin should go touch the 4k-4.4k zone. So now that it's done, What will happened with bitcoin ? Well on the daily chart we have a pretty good looking bull flag that is about to go test the next level of resistances (little red line and the 50 day moving average). So no lie here, those are some strong resistances and it will not be easy to break those. However, I think we have more chance to go upside than downside in the mid term. Short term, it could look like the Elliott wave I drew or we could see an up side break out of the bull flag and go directly break those two resistances without any correction.

Volume, momentum & patterns all looks good to me so I think bitcoin has good chances to break the next red line and maybe go as high as 5k or 6k in the next few weeks. I don't expect a breakout of the 6k base tho, this resistance is way too massive and it's way to soon for that in my opinion.

This will be very interesting to watch, bitcoin has already had a strong bounce so let's see how high can bitcoin go.

Stay tuned for more updates,

Fred

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Looks like bitcoin will go retest it's 200 weekly moving average, I expect it to hold the price or maybe we'll see a quick false breakout of the 200W ma and then a bounce back over it. This bear market look so similar with the 2014/2015 bear. I think the bottom is probably in or close, however the next bull run will not start now, it will take months. Take a close attention to what will happen with the 200 week ma, this is big deal.

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Finally... bitcoin touched 5k... I just sold 75% of my bitcoin. Big resistance's coming.

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Bitcoin went all the way up to 5.6k... Could go a bit higher but we will not crack 6k without a correction.