BTC Short term short

6 พ.ค. 2018

At this point in time with bitcoin on a long term basis i am bullish and I do believe we will hit a new ATH before this year is over! But looking ahead at the next week we will see if we can strongly get over 10k which is a huge mental level but following very shortly after that we have a have FIB level .618 at $10261
I feel like we will see the price quickly rise above the 200MA but i don't see us closing above it mostly because it meets with a huge selling point area and also the top of the bearish pennant. Even though a lot of times we will see bitcoin break upwards out of these pennants. IF we can see bitcoin push through the whole red resistance box and past the GANN level 4/1 i could see us taking off quite quickly. The two orange trend lines are a idea for the future bullish pennant if we break down and following the break of the possible bullish pennant and GANN level 2/1 we will have a clear and quick path to level 3/1 on the downtrend fan and by this time sentiment will have truly switched sides and the test pumps for the ALT coins and next accumulation phase will be passed. I am new to trading view but I'm defientley excited to share my work!!