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RE: Bitcoin is king? $3700, bull run or bull trap
I suspect that this will hit major overhead resistance at around 4400, which coincides with previous resistance/support in 2017 plus the falling 50 EMA . This presents a good opportunity for a pullback and allows me to pencil in the head and shoulders formation.
This will be a major battle here, and unless we break above that level, the bears are still in full control and we could continue in a long term descent back below 3000.
please take a look at my recent post and tell me what you mean.
follow me for more crypto ideas.
https://steemit.com/bitcoin/@orphism/bitcoin-is-the-bear-market-over
Read it and took action, good analysis. BTC currently has enough space to move upward as we didnt have chance to form major resistance lines except around 6k, hopefully we stay above 50 and maube even break 200(pipe dream, but a dream still)