This morning Bitcoin has broken through the last level of resistance in its path to retouch previous ATH at $19000 ($18953 on BITSTAMP)
The level of resistance at $17295 is only found on the 4H and is not a major level of resistance at all. The real region that BTC is trading around is from $16124 to $18953, both levels found on monthly timeframes.
BTC will pullback but not until the move is fully exhausted, Bitcoin is not done climbing yet the move is still happening going up.
Last TP level before TA is basically out of the picture is $18953 which BTC looks like it's headed towards now. Beyond this level, Bitcoin is going to be a whole different animal to try and trade because technical analysis as we know it will change as support & resistance no longer will work. Just resistance levels on small timeframes that have just been created that's about it.
Bitcoin could potentially dip back down in price a bit to retest the $17295 level or even wick $16599 before moving back up to touch previous ATH.
Let me know your thoughts down below!
As always please do your own research, I am not a financial advisor.
The level of resistance at $17295 is only found on the 4H and is not a major level of resistance at all. The real region that BTC is trading around is from $16124 to $18953, both levels found on monthly timeframes.
BTC will pullback but not until the move is fully exhausted, Bitcoin is not done climbing yet the move is still happening going up.
Last TP level before TA is basically out of the picture is $18953 which BTC looks like it's headed towards now. Beyond this level, Bitcoin is going to be a whole different animal to try and trade because technical analysis as we know it will change as support & resistance no longer will work. Just resistance levels on small timeframes that have just been created that's about it.
Bitcoin could potentially dip back down in price a bit to retest the $17295 level or even wick $16599 before moving back up to touch previous ATH.
Let me know your thoughts down below!
As always please do your own research, I am not a financial advisor.
