Bitcoin Pushing Through Resistance Again

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Bitcoin is now pushing its way through arc resistance in several timeframes.  I think it is reasonable to assume that it will soon get through the arcs to close on the sunny side, giving us buy signals once again.

Here is a 4-hour chart:

As you can see, in this setup it was the top of the 4th square that knocked price for a loop several days ago.  But the chart found support at the 3rd arc, retraced back to the 4th arc, faltered for a bit, but is now pushing through.

Of course, it is possible that the 2nd arc of the pair will knock it back down, but that seems a bit unlikely.  Far more likely, imho, is that price will get through and target the 5th arc at ~ $1087.

It seems that the 2/19-2/21 timeframe will see price hit the 5th arc. What will likely happen then?  Of course, I can’t say for sure.  However, Chris Carolyn’s

Read more ... source: CryptoCoinsNews

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