#BTC with a crucial $5000 upmove in 8 hours, dispersing bear hopes, efforts and money.
-Still, the price has long way to go and few important resiatances to take over, before the real parabola could start!
1) The upper line of the descending channel , which coincides with the 100 MA on the 4h chart, at 58800 level.
2) The horizontal line around 61300 , which was acting as support, before the crash on Nov 16th. It also coincides with the 50 MA on the daily chart and the 200 MA on the 4h one, turning it into one of the most solid and important resistances, before the so anticipated recovery.
- The stance is firmly bullish and the new all time highs, on the wheels of parabola, are just a matter of time!
-Still, the price has long way to go and few important resiatances to take over, before the real parabola could start!
1) The upper line of the descending channel , which coincides with the 100 MA on the 4h chart, at 58800 level.
2) The horizontal line around 61300 , which was acting as support, before the crash on Nov 16th. It also coincides with the 50 MA on the daily chart and the 200 MA on the 4h one, turning it into one of the most solid and important resistances, before the so anticipated recovery.
- The stance is firmly bullish and the new all time highs, on the wheels of parabola, are just a matter of time!