The bitcoin Bulls had a one way run until about 11 hours ago. That was 00:20am South Africa time (GMT +2). The bulls run to $11770 on Bitstamp and then corrected to $10740. That is a $1000 move down.
Is the Bull trend still in place? It is interesting to see the latest video from The Chart Guys. The video was made just before the dip and Dan was tacking about the trend and how important the trend is. That is why I called this post ‘’The trend is your friend’’.
It is very important to know that the dip to $10740 is a higher low than the previous low of $10221.00. The Bull trend is still in place and this dip looks like health consolidation to make another higher low at $10740. Go Bulls!!!
Here the latest update from the Chart Guys:
What do you think of the current bitcoin Trend? Still up of down?
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I think we are consolidating nicely, and all seems to be moving along in a healthy fashion, great to see a fellow Saffer doing his thing, will follow and check in on your post regularly.
Best of luck in your crypto venture,
Stay blessed :-)
Resteemed
Great comment, I'm also following @colinbrazendale. Following YOU @michaeljn!
@pjcswart Thank you, folwd bck :-)
stay blessed
Thank you! You're a blessing!
The pullback way pretty much anticipated and shouldn't come as a surprise for the people who follow a little bit of TA. Now the question is how many tries we'll need to break th resistance level around 12k. We saw a lot of volume coming in yesterday around this point, but it asn't enough to prevent us from going down again. It might take a while longer to break this (as I see it) very important resistance level. If we can close the daily above 12k, I'm pretty sure we'll rush towards the 14-15k levels very quickly again. I'm just not so sure we'll break the 12k level that easily. We first might have to go down to 10k or even 8.5k before we see that happen.
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