WHAT'S NEXT FOR BITCOIN?

Hello traders!

Today we are going to look at the potential movement for Bitcoin. These past few days we have seen a huge leg up, breaking the resistance at 28.000 and finally hitting the 30.000 area, having an almost 10% gain these past few two days. What I think follows this is a healthy correction back down to 28.000 and potentially even lower, this is a common pattern with Bitcoin for each time it has it a new high. We can see clear resistance at 30.000 and a solid support at 27.000 area with the 1 hour time frame. From the MACD indicator we can also see that the momentum and volume is heading downwards.

In conclusion: I would wait and see these next days what way it is going, on the lower time frames I would begin to look at a short setup. Good luck!

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- The Stallion

REMEMBER TO ALWAYS TRADE AT YOUR OWN RISK AND I AM NO FINANCIAL ADVISOR.