Bitcoin Technical Analysis: Waiting For Breakout
Bitcoin parabolic move is stopped by $14,000 resistance for some time. Bitcoin has seen a major price rejection at $14,000 and dumped more than $2,000 on the same day after touching $14,000 mark.
Bitcoin has tested the support zone of $9600-$9800 and ready for another run. As long as Bitcoin holds above $10,000 the market sentiments are positive and we may see another parabolic rally anytime.
The next parabolic move will push the price towards $18,000 and I am not surprised if Bitcoin breaks its All-time High of $19670. There are a lot of people waiting to enter after the breakout of $20,000. The real FOMO (Fear of Mission Out) will push the Bitcoin price to newer all-time highs.
Altcoin are not looking good at this time, as Bitcoin dominance will go up with price, hence altcoin will dump more. This is no trade zone for altcoin now until Bitcoin shows it final moves.
Always remember “Trend is Your Friend”. Bitcoin is now in a bullish trend, trading above all moving averages (MA) on all timeframes. Don’t miss the Bitcoin rally, Altseason may come in August-October.
