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Bitcoin BULLS are having a party

Bitcoin BULLS are having a party
August 28
17:37 2018

Within the last 72 hours, Bitcoin bulls were able to push through the crucial resist level at $6.800 and it is now currently trading above $7000.

After weeks of sideways movement and many manipulative swings, BTC finally showed some bullish signs. Yesterday daily close was able to crack down on the crucial resistance at $6.800. This marked the beginning of a strong movement to the upside and a new dose of optimism for the future. Now all eyes are focusing the pivot point on $7.240 levels, which if broken will give enough momentum for a move up to the $8.000.
At the moment, RSI level is favorable for the bulls and in addition, the MACD crossed to the upside. More signs that the rally should continue…

BTC TA

BTC chart with all crucial levels…

The total market cap is currently sitting at 228 billion and for many, the 300 billion market cap will be another important test for the overall crypto market. These level haven’t been seen since early June and will be the last sign of the bullish reversal…

On the other hand, yesterday news came out about a new tether issuance of $50 million. For some of the bears, it was a clear sign of market manipulation. They believe a massive BART is in the making and are continuously opening shorts. If they are right, the upward movement will have to be a Bull trap, leading to massive LONG squeeze. The drop should easily test the $6.200 resistance and REKTed the majority of the bulls.

Is it a Bull run or a Bull trap? Let us know in the comments…

Chill and Trade!

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