Sideways Movement - Bitcoin Has Options! UP or DOWN?!

campfire (48)in #bitcoin • 4 years ago

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In the short term we see Bitcoin taking a turn and moving down for a slight pullback. In the long term we see more upward bull movements! Right now, BTC is content to move sideways and rest...

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Bitcoin is resting on support levels that were previously established. We see support keeping BTC up above $11,000 USD but of course it could dip below that level. If it does the strongest support line is going to be at $10K.

Chart indicators are still showing a bullish trend, however there are a few minor bearish things happening that are casting doubt in the short term. For example, today we're seeing trading take place in the middle and lower band of the Bollinger bands.

Also, the 10 day MA has straightened out some as the 50 day MA is still climbing to catch up. A cross would be bearish, but we're still very far off from that happening. For now there's really not much more to tell!

Wait and see!

Keep watching the charts! 📈

Please note : this is opinion and should not be taken as financial advice.

#btc #crypto #price #chart #analysis #predictions