In my last article i stated reasons why i believe the bitcoin is in a possible reversed state after price had difficulty in breaking the $6000 mark twice. I also mentioned how the Stochastic oscillator on the weekly time-frame is over-sold. These were my main technical reasons i was expecting a surge in the bitcoin cryptocurrency market in the coming months. Remember i am not expecting a new price high of $50,000, i am only expecting price to head northwards to retest the $19,850 it made Dec 17 2017 which will take some months.
The bitcoin is currently trading at $8,200 and i am expecting more rise to the $10,000 psychological area where we will surely meet price resistance. A successful break of $10,000 resistance and we will have a high probability of witnessing $15,000 price mark. This is the best time for those who want to invest in the bitcoin. Its called buy it cheap when its oversold or supply overwhelms the market and sell it expensive when its overbought or demand is high!