Why Bitcoin (BTC)’s Next Big Move Will Be Decisive

Оригинал: https://cryptodaily.co.uk/2018/09/why-bitcoin-btcs-next-big-move-will-be-decisive/

Bitcoin (BTC) is at a critical point at the moment. The moves it makes from here on out will determine whether the gradual shift in trend over the past few months has been of consequence or not. The above daily chart for BTC/USD shows that Bitcoin (BTC) cannot afford to mess around here. Since the month of July, we have seen a hidden bullish divergence. RSI seems to have found a strong support and is now expected to trade upwards from current levels. Similarly, wave trend profile for the above chart clearly shows a series of higher lows since July and also a new trend line that has held until now. Bitcoin (BTC)’s next big move is supposed to happen within the next 48 hours and here is why we believe it is going to be decisive.

Bitcoin (BTC) has established a strong demand zone since the beginning of this correction. This demand zone has seen the price bounce back soon as it entered these levels. This zone begins from $6250 and extends all the way to $5,800. The price of Bitcoin (BTC) tested the full depth of this demand zone in August and began a reversal from there as expected. However, before the price could retest the historical downtrend resistance, the price starting falling again and once again tested the upper limit of the demand zone. It reversed as expected, but this time it did not even attempt to rally towards the downtrend resistance and has now once again fallen back to retest the demand zone.

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