Cryptocurrency
Bitcoin Pumps to $7.3K, $8K Next?
Daily On the daily chart above, you can see that Bitcoin has reached a green 8 on the sequential indicator. When sequential reaches a 9, it typically means price is going to reverse. While Bitcoin’s uptrend is likely to continue, we may see a pullback in the coming hours once Bitcoin reaches a green 9. […]
Daily
On the daily chart above, you can see that Bitcoin has reached a green 8 on the sequential indicator. When sequential reaches a 9, it typically means price is going to reverse. While Bitcoin’s uptrend is likely to continue, we may see a pullback in the coming hours once Bitcoin reaches a green 9.
4 Hour
Bitcoin is approaching a green 9 on the daily, however, Bitcoin has already topped on a green 9 on the 4 hour timeframe. Furthermore, if the next candle on the 4 hour chart is a red 2, technicals will be telling us a short-term pullback is likely.
Conclusion
After a large increase in both the stock market and cryptocurrency market yesterday, a short-term pullback seems likely. While Bitcoin’s recent breakout is likely to continue, our current indicators are telling us an interim pullback is likely.