Bitcoin look like a rocket or not ? Chart analysis (French annotation)

in #bitcoin7 years ago

Hi Steemit community, How are you ?

I think you have view the great daily evolution of bitcoin but let's see what really happen on the graph, which are the expectation, are we really in a uptrend ?

The annotation in the graph is in french.

Fundamentally, I have a bullish expectation on bitcoin, I believe in block chain!

BTC 5 aout 2017.png

We were in a range, we saw a false breakout in the middle of july, it look like a correction and a opportunity to buy for big arm.

2950-3000 $ is a key resistance point, there was a double top on this level.

After, the false breakout we return to the range.

If we look at the volume :
The 15th june, there was beautiful candle of bearish rejection with volume --> Big arm rejected the bearish trend.
Mid-july : there was big volume and big bullish candle so buyer take the lead.

Today there are the rangebreakout, I think the bullish trend restart but be carrefull there are not significant volumes so for me the bullish trend is not confirmed!

2 scenarii :
-Big hand enter on bitcoin with significant volume and confirmed the up trend !
-Big hand enter on bitcoin with the expectative to return to the range !

Take your profit if you think we can return to the range
Buy bitcoin if yu think it's the begining of a up trend

Have a nice week end

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i just upvote .. how it work !!

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