WE ARE BACK - BULL RUN? REALLY? TAKE A SECOND LOOK
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Hello everyone,
Bitcoin is deciding if it wants to start 2019 in a bear or bull market. Last time we saw so much consensus for a bull run, traders panicked, 6k broke and fell almost 50% in 2 weeks.... classic! Be careful, watch those very important levels of 3.8k, 3.6k and 4.4k. Even after yesterday's breakout, were still seeing very low volume indicating that the bulls may already be running out of steam. ;)
If 3.8k does not hold, bear market and a 2.8k test is very likely. If 3.8k holds in the next few days and volume increases significantly, we are confident Bitcoin is going to hit 5.2k.
Happy trading!
Bitcoin is deciding if it wants to start 2019 in a bear or bull market. Last time we saw so much consensus for a bull run, traders panicked, 6k broke and fell almost 50% in 2 weeks.... classic! Be careful, watch those very important levels of 3.8k, 3.6k and 4.4k. Even after yesterday's breakout, were still seeing very low volume indicating that the bulls may already be running out of steam. ;)
If 3.8k does not hold, bear market and a 2.8k test is very likely. If 3.8k holds in the next few days and volume increases significantly, we are confident Bitcoin is going to hit 5.2k.
Happy trading!
Note
As we anticipated, the bulls are nowhere to be found. ;)Price is going down with very low volume. Approaching 618 bear fib channel retracement... Expecting Bitcoin to DROP below 6.6 in the coming days!
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