Bitcoin - a never ending parabolic run.
Hello traders,
Here's a side by side weekly and monthly time frame of BTC:USD.
Bitcoin has surged all the way up to 13,000 USD breaking above all the targets that were covered on prior analysis, and it is currently traded at around 12,700 USD.
BTC showed some weakness past few days as Bitfinex went offline, and there wasn't much liquidity on the market, once they came back online it just surged all the way up to 13,000 nearing the key level of resistance on monthly time frame, that of 13,500-14,000 which is the same level the 2017's last monthly bullish candle closed and was a catalyst of the longest ever bear run.
Judging by the Technical Analysis, Fundamentals and the bullish momentum we've had so far it you can see that BTC is disregarding any possibility of a small correction whatsoever as we are slowly but surely nearing the ATH.
I've highlighted the levels from where we could see a small reversal, the 13,500-14,000 being the first one which as I mentioned is also the monthly key level of resistance, and if that breaks the next logical level which I'd monitor closely is that of 16,000-16,500.
Keep in mind, Bitcoin pulling back would mean whales shifting capital from BTC to alt-coins, so once that happens we will begin seeing alt-coins pumping.
If BTC breaks above these levels, disregarding any type of resistance as it has already been doing with the past levels of resistance, it is an open sky from there. Buckle up as it will begin forming new all-time-highs.
Here's a side by side weekly and monthly time frame of BTC:USD.
Bitcoin has surged all the way up to 13,000 USD breaking above all the targets that were covered on prior analysis, and it is currently traded at around 12,700 USD.
BTC showed some weakness past few days as Bitfinex went offline, and there wasn't much liquidity on the market, once they came back online it just surged all the way up to 13,000 nearing the key level of resistance on monthly time frame, that of 13,500-14,000 which is the same level the 2017's last monthly bullish candle closed and was a catalyst of the longest ever bear run.
Judging by the Technical Analysis, Fundamentals and the bullish momentum we've had so far it you can see that BTC is disregarding any possibility of a small correction whatsoever as we are slowly but surely nearing the ATH.
I've highlighted the levels from where we could see a small reversal, the 13,500-14,000 being the first one which as I mentioned is also the monthly key level of resistance, and if that breaks the next logical level which I'd monitor closely is that of 16,000-16,500.
Keep in mind, Bitcoin pulling back would mean whales shifting capital from BTC to alt-coins, so once that happens we will begin seeing alt-coins pumping.
If BTC breaks above these levels, disregarding any type of resistance as it has already been doing with the past levels of resistance, it is an open sky from there. Buckle up as it will begin forming new all-time-highs.
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