Trader: the rise of Bitcoin 10% opened the way to new bullrun

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2019-02-10 12:00:13

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Trader: the rise of Bitcoin 10% opened the way to new bullrun

On the Eve suddenly jumped up by as much as ten percent after a few weeks of activity of bears in the market. The main crypto currency broke through a major resistance zone in the area of $ 3,500.

Rebound of such power aroused the suspicions of some members of cryptocommunist. Whether the growth was a result of overselling of an asset or is it another of the tricks of the whales? And most importantly — how long Bitcoin is going to grow in the future?

the

Adam and eve

Independent cryptanalyst under the name GalaxyBTC has about 47,8 thousand Twitter followers, so his opinion often strongly influences traders. Recently GalaxyBTC said the schedule of Bitcoin is in the process of pattern formation «Adam and eve». Traditionally, such structures are considered to be in the trading basis for reversal.

Adam and eve — the generalized name of a double bottom. First cryptocurrency draws a V-shaped formation with a rebound from a local minimum, and then goes on a longer correction. After the next recession gives way to bearish trend bullish in the long term.

However, while the script GalaxyBTC has not found its confirmation. That pattern was really work, Bitcoin needs to gain a foothold above the previous local maximum. The final confirmation of the uptrend will be gains above 4400 dollars.

In case of breaking above resistance, we recommend immediately open a long position. The goal to fix the profit is $ 6000. It is noteworthy that the price movement to this level will repeat previous patterns on the chart the cryptocurrency. According to Eric yew, Bitcoin has several times passed through a similar rebound in 2018.

Will «Adam and eve» the beginning of a new full bullrun? It is possible, because the formation of the pattern coincided with the news about the possible first Bitcoin ETF with the SEC. Not to miss another great deal, follow us on .

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