Larger Parabolic Move In Bitcoin “Imminent” After Breaking Bearish Ceiling

Et8j6yMVEAcVCUR 980x547

Bitcoin today smashed through its short-term “bearish ceiling” set after running into resistance earlier this week. With the level now out of the way and cleared, the asset’s larger parabolic move continuing is “imminent,” according to one crypto capital manager. Here’s what the rest of the parabolic move might look like, once the uptrend regains its previous momentum. Bitcoin Blasts Through Bearish Ceiling, Nabs Another New Record High Following the news that Tesla had bought $1.5 billion in Bitcoin, the leading cryptocurrency by market cap posted among its largest daily candles in history. However, price action was stopped short of touching $50,000, which is the next major round number for the asset to beat. Indecision struck when the next day the impulse didn’t continue, resulting in a doji and a drop on the next day. Newly attained support held, and already Bitcoin has taken out the short-term bearish ceiling set…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE