https://twitter.com/SwenLink
hello there buddy, There is no such word as "IT WILL" on the Technical Analysis Side of all markets. Because a good Technical set-up that all chartist agree, may void with just a single whale market participant or with just one bad or good news. If you learn the language of the market you will think like, IF and THEN thought process, something like, IF the MARKET does this THEN i'll expect something like this to happen.
In my humble opinion about the TA side of the BITCOIN. I cannot lie and i know that all can tell that bitcoin now really is in the bear side of the market unless it breaks above and closes above the 13,066$ mark that acts as a first resistance. The 2nd resistance is on the 17,374$ area which IF the price actions breaks above and closes above that. THEN I anticipate the price to go UP.
By the way, I use price action only on reading the charts, NO FANCY LAGGING INDICATORS can beat the price action because the PRICE ACTION REALLY IS THE REPRESENTATION of market participans. Oooohhh this is becoming too long. Well, can't blame myself because i am too passionate about this kind of stuffs. Stay Well Buddy Learn EVERYDAY. NEVER depend on someone else, DO your own homework if you want to success in this industry. Smell ya later.
Same as above, I believe that TA is a good indicator but what affects bitcoin price is hype, fud and media. That is why it is hard to predict the price of bitcoin in long term because news and whales will distract your well researched ta in a single click. Use it as a guide but always be in alert of news that will disrupt your ta.