#BITCOIN : The Rise And Rise - Where To Go Next?
#Bitcoin_Update
After our last signal on Bitcoin stating Bitcoin is on the way to confirm an inverse H&S pattern it did managed to do so to breakout from the area for a test on the major resistance line at 12871 USD and rejected at around 12830 USD area for now for a possible healthy correction. We still couldn't say we can tell the exact possible targets for an impulsive elliott waves but we are still in a bullish trend for Bitcoin. It is currently holding above the 11758 USD support area for the short run. In the short time frames a rising wedge triangle is trying to form and looking for a further break out scenario. Since we are in an unconfirmed state of trading on Bitcoin there are many possible outcomes to happen but we will see the major scenarios that we think we should consider while trading.
Scenario 1 : This is our prediction which holds the most possible scenario to happen on Bitcoin for the short run and is it will be heading first the resistance which it was rejected and will most likely breakout if it can hold its support at the moment and will likely be heading to test the yearly high of 13.8K USD area. Psychological impact all over Bitcoin's trading area's is making look the trade more bullish than it was by the past week and major indications for a bullish run are still active showing that there is still possible bull runs from Bitcoin.
Scenario 2 : This is the scenario in which we still believe that Bitcoin will need one more major correction but after the developments we have seen on Bitcoin by the past 10 days the correctional idea is becoming lose energy. The neutral triangle formed after the bull run to its highest price level till today is having tested and trending and need to see the outcomes after seeing the possible resistance-support test of this major triangle. We will further give more updates once after we see a good indication on the trade after the end of the possible move from the triangle.
Drop a Like if you agree with this idea and drop your comments if you disagree or argue with idea stated in it too.
Further we would be happy if you help us grow our community base by following our profiles here on trading view and other social platforms.
With Regards.
TeamTWA
@TogetherWeAccumulate
After our last signal on Bitcoin stating Bitcoin is on the way to confirm an inverse H&S pattern it did managed to do so to breakout from the area for a test on the major resistance line at 12871 USD and rejected at around 12830 USD area for now for a possible healthy correction. We still couldn't say we can tell the exact possible targets for an impulsive elliott waves but we are still in a bullish trend for Bitcoin. It is currently holding above the 11758 USD support area for the short run. In the short time frames a rising wedge triangle is trying to form and looking for a further break out scenario. Since we are in an unconfirmed state of trading on Bitcoin there are many possible outcomes to happen but we will see the major scenarios that we think we should consider while trading.
Scenario 1 : This is our prediction which holds the most possible scenario to happen on Bitcoin for the short run and is it will be heading first the resistance which it was rejected and will most likely breakout if it can hold its support at the moment and will likely be heading to test the yearly high of 13.8K USD area. Psychological impact all over Bitcoin's trading area's is making look the trade more bullish than it was by the past week and major indications for a bullish run are still active showing that there is still possible bull runs from Bitcoin.
Scenario 2 : This is the scenario in which we still believe that Bitcoin will need one more major correction but after the developments we have seen on Bitcoin by the past 10 days the correctional idea is becoming lose energy. The neutral triangle formed after the bull run to its highest price level till today is having tested and trending and need to see the outcomes after seeing the possible resistance-support test of this major triangle. We will further give more updates once after we see a good indication on the trade after the end of the possible move from the triangle.
Drop a Like if you agree with this idea and drop your comments if you disagree or argue with idea stated in it too.
Further we would be happy if you help us grow our community base by following our profiles here on trading view and other social platforms.
With Regards.
TeamTWA
@TogetherWeAccumulate
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