Hi guys,
At the moment bitcoin is consolidating around $10500 -$10600 (AUD). Due to heavy resistance, the price is pinching towards a break out (either up or down).
At this point in time, everything is in the favour of the bulls. However to be certain of this we will need to see an increase in volume to push this price towards the $12,200 (AUD) price point.
Keep in mind that if we do not get an increase in volume within the next 24-48 hours then we may see a bearing breakout.
65% chance for bulls
35% chance for bulls
Personally I am expecting a bullish breakout for bitcoin withing 24-48 hours.
As always, remember - bulls make money, bears make money, but HOGS GET SLAUGHTERED!! Don't be a hog guys!!
Donations always welcome:Ethereum address (any ERC20 token): 0x15dFDafD261A263162178C994D7F78355B59dCca
I agree with you @xyz666 I'm also expecting a bullish breakout. A 4hour close above $8,150 USD and we should be seeing some momentum shortly follow. A close on the hourly below $8,000 USD and I think we get another panic sell. However I'm 85% its a breakout and not a breakdown. Keep up the good work, and good luck on your journey :)
yeah we really need that momentum soon! I'm quietly optimistic as we can see that the altcoins are surging forward just as they did before the last breakout. It all seems quite bullish to me but of course it's a volatile market and there is always risk involved. Good luck to you also! ^.^