**AlpoCrypto BTC/USD Analysis
Hey everyone. You will find that my Technical Analysis is very basic but clear and its what I find works when dealing on a larger time frame like the daily.
We had a nice run up on the daily candle after consolidating in between the $8800 - $9400 region. We have broken the previous high of $9,767 although have found resistance around that mark with shorts stacking up and people taking profits as we approach the $10,000 psychological resistance zone.
I feel we need to find support on the plotted horizontal line around the $9,650 zone before breaking through and creating a higher high that would give us a runway through past $10,000.
My mid term target on BTC/USD is to test the March highs of $11,700 where we will run into a very volatile and choppy market due to the major key resistance levels we will face. I think the Alt Market will be very controlled by Bitcoins movements as we rally past $10,000 so tight stop losses and risk management will be important through these times.
Remember - we arent out of the woods unless we make a higher high on the daily and really start showing some movement toward the low $10,000 mark.
I am currently Neutral on BTC untill I see this higher high formed on the Daily but overall through the mid and long term i am very bullish.
Hey everyone. You will find that my Technical Analysis is very basic but clear and its what I find works when dealing on a larger time frame like the daily.
We had a nice run up on the daily candle after consolidating in between the $8800 - $9400 region. We have broken the previous high of $9,767 although have found resistance around that mark with shorts stacking up and people taking profits as we approach the $10,000 psychological resistance zone.
I feel we need to find support on the plotted horizontal line around the $9,650 zone before breaking through and creating a higher high that would give us a runway through past $10,000.
My mid term target on BTC/USD is to test the March highs of $11,700 where we will run into a very volatile and choppy market due to the major key resistance levels we will face. I think the Alt Market will be very controlled by Bitcoins movements as we rally past $10,000 so tight stop losses and risk management will be important through these times.
Remember - we arent out of the woods unless we make a higher high on the daily and really start showing some movement toward the low $10,000 mark.
I am currently Neutral on BTC untill I see this higher high formed on the Daily but overall through the mid and long term i am very bullish.
