BTC price broke consolidation upwards at 11200 yesterday and stayed above resistance near 11400 most of the day. This bullish setup gave immediate fruits. BTC price accelerated again during Asian session and brought bulls more then 10% overnight. It looks like non stop carnival train, but market has reached very serious resistance stop just under 13000 This horizontal resistance formed market top formation in Dec 2018 and Jan 2019. So now it could be a good target for an important wave 1 (blue cycle) and for wave V of embedded green cycle top (even if bulls are looking unstoppable now). Let's see if market will make a turn here or will smash this block as many others before.
Commentaire:
UPD. Final thrust over 13K level with sharp reversal back under resistance are confirming that wave 1 (blue cycle) top is in place.