Bitcoin's prediction!
Greetings Orbitals!
Recently, Bitcoin had a golden cross on the daily chart, which made it it bullish all the way up to the next resistance of 50k. Now it has failed to break to the 50k wall, so what's next? We have a few options.
- Bitcoin could trade sideways between 45k-50k before making a move.
- Bitcoin could make an ascending triangle then break 50k.
- Bitcoin could be bearish and fall down to 40k prior to bouncing upwards.
I do spot multiple bearish divergences on my indicators which I have high lighted on multiple time frames. Note, these are not always true but the more that I see on multiple time frames the higher chance that they are accurate. Furthermore, the Bollinger bands are tightening meaning, that a move is imminent.
As long as we stay above the ichimoku cloud with a bearish move, I will be bullish on Bitcoin to break the 50k wall on its next bull move; then on its way to 60k. You do not need to worry if it is bearish because you can accumulate more alt coins at a discount! I hope this helps everyone understand the current market. Happy Trading!
- Orbit Corey
Recently, Bitcoin had a golden cross on the daily chart, which made it it bullish all the way up to the next resistance of 50k. Now it has failed to break to the 50k wall, so what's next? We have a few options.
- Bitcoin could trade sideways between 45k-50k before making a move.
- Bitcoin could make an ascending triangle then break 50k.
- Bitcoin could be bearish and fall down to 40k prior to bouncing upwards.
I do spot multiple bearish divergences on my indicators which I have high lighted on multiple time frames. Note, these are not always true but the more that I see on multiple time frames the higher chance that they are accurate. Furthermore, the Bollinger bands are tightening meaning, that a move is imminent.
As long as we stay above the ichimoku cloud with a bearish move, I will be bullish on Bitcoin to break the 50k wall on its next bull move; then on its way to 60k. You do not need to worry if it is bearish because you can accumulate more alt coins at a discount! I hope this helps everyone understand the current market. Happy Trading!
- Orbit Corey
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