BTC next move

2 mar 2018

We are currently sitting right on the 1.62 fib extension level, what happens next here is extremely important. On the chart you can see the blue trend line, btc has broken though and is gaining momentum which is a good sign for the bulls. The red trend line shows where the resistance is on a log scale, btc needs to continue gaining bullish momentum and we need to see a strong breakout through this line to confirm a bull trend. The volume profile shows very small resistance above the current price and price should be able to easily smash through if we can continue moving upward from this point we are currently at.