Bitcoin Breakout + Golden Cross = Be Careful

Bitcoin Breakout + Golden Cross = Be Careful

By Workin | Technical Analysis | 23 Apr 2019


As predicted in my last update, bitcoin broke up and out of the bullish ascending triangle in which it was consolidating. It found resistance right at the top of the prior order structure created back in November of 2018. Daily volume has spiked above $16 billion.

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Shorts are still stacking while longs are stagnant.

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We’ve finally seen the 50 day MA cross above the 200 day MA (Golden Cross). While this is an extremely bullish sign overall, it doesn’t come without major warnings.

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In today’s analysis I discuss those major warning signs, where I think price is going from here, traps to avoid and so much more. I hope you find it helpful.

Video Analysis:

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

Disclaimer: This is NOT financial advice. 

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Workin
Workin

Crypto: Hated by governments, banks and dictators. Loved by all those who believe in true freedom. Retired airline pilot...full time crypto enthusiast. #Freedom


Technical Analysis
Technical Analysis

Crypto: Hated by governments, banks and dictators. Loved by all those who believe in true freedom. Retired airline pilot...full time crypto enthusiast. #Freedom

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