Image by Pierre Borthiry
Bitcoins correction which started on the 16th of August had so many trader's really worried and some newbie traders would have closed their trade hoping for a bear running as there was a breakout out of the rising wedge which normally signified a downtrend.
But few days after a falling wedge was found, mid day yesterday falling wedge got broken confirms some pro and more experience traders analysis of massive bullish move on the way.
To the trade's who bought a short term position $45k retest and had their take profit at 48k resistance zone at the beginning of the falling wedge if you look at the chart before, cheer's 🥂 because your take profit position has been filled or taken.
Look at the chart above you can see that Bitcoin has broken the $47k resistance with a big bullish candle, confirming the long term prediction of Bitcoin on coming bull run. Base on my prediction price could continue going up or make a correction back to the $47k resistance zone and if the resistance point holds we could see Bitcoin heading for next resistance zone or make a new All Time Hall and a possiblity of $100k by the end of the year.
But if price breaks back down then we could be expecting a bear run.
Disclaimer: Not a financial or investment advice, just updating you on what is happening in the crypto market.
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