Bitcoin: BTC Bulls Finally Take Control (November 2019)
- 5 years ago
Bitcoin: BTC Bulls Finally Take Control (November 2019)
Bitcoin dominance (BTC.D) has finally tested the 200 moving average on the 4H time frame. This has finally convinced me that the correction is over for now. The price might see further upside from here as high as $8,000 or in the case of another pump much higher. The 4H chart for BTC/USD shows how the price has been slowly declining in a systemic manner to lower levels. This slow bleed has a method to it and a way of keeping the bulls excited as the price gradually declines. We have now seen Bitcoin (BTC) break below key trend line supports over time. There is plenty of room for the price to rally higher from the current trend line support to rally towards the next trend line resistance.
Bitcoin dominance (BTC.D) has finally tested the 200 moving average on the 4H time frame. This has finally convinced me that the correction is over for now. The price might see further upside from here as high as $8,000 or in the case of another pump much higher. The 4H chart for BTC/USD shows how the price has been slowly declining in a systemic manner to lower levels. This slow bleed has a method to it and a way of keeping the bulls excited as the price gradually declines. We have now seen Bitcoin (BTC) break below key trend line supports over time. There is plenty of room for the price to rally higher from the current trend line support to rally towards the next trend line resistance.