Next stop 12238.
As per classical charting it is believed that ideally every breakout is followed by retest of its breakout zone.
If you look at the above chart you will realize that bitcoin have actually given a bullish breakout from a very strong channel and it would make sense to actually open a long from levels close to breakout zone rather then shorting it from current levels.
I am not fundamental analyst and i really dont understand what makes these virtual currencies move but as an technical analyst i can say that bitcoin is more likely to see 12000+ levels before it sees sub 9000 levels.
All the best!
PS Do hit a like if you would want me to do more analysis of crypto currencies.
As per classical charting it is believed that ideally every breakout is followed by retest of its breakout zone.
If you look at the above chart you will realize that bitcoin have actually given a bullish breakout from a very strong channel and it would make sense to actually open a long from levels close to breakout zone rather then shorting it from current levels.
I am not fundamental analyst and i really dont understand what makes these virtual currencies move but as an technical analyst i can say that bitcoin is more likely to see 12000+ levels before it sees sub 9000 levels.
All the best!
PS Do hit a like if you would want me to do more analysis of crypto currencies.
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This can be another possible zone
