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Bitcoin Technical Analysis: GEARING UP FOR ANOTHER MOVE by workin2005

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cryptocurrency · @workin2005 · (edited)
$7.58
Bitcoin Technical Analysis: GEARING UP FOR ANOTHER MOVE
![Analysis_Logo Resize.png](https://cdn.steemitimages.com/DQmPGS4NFos8KZvW7KRjkYs21czufu92Vr9qooFwGNJm5vc/Analysis_Logo%20Resize.png)
### In my last update I discussed how the $5,450 support needed to hold. While price has wicked through it a few times, we’ve seen no decisive break as of yet. If this zone does break down, there’s not much support between $5,450 and $4,600. 
![Screen Shot 2018-11-17 at 3.00.33 PM.png](https://cdn.steemitimages.com/DQmR5tAnaiTgeDFJfzNxBoFf4yGmrdi3ZxZcDD2z9wW86dG/Screen%20Shot%202018-11-17%20at%203.00.33%20PM.png)
### Bitcoin is currently consolidating, while getting squeezed. Zooming in on the 4 hour chart, we're seeing lower highs and higher lows. This suggests it’s getting ready to move again within the next 24-48 hours.
![Screen Shot 2018-11-17 at 2.57.01 PM.png](https://cdn.steemitimages.com/DQmXdvg8QcrzhEemy9xAjuMFHDumDDmeqdhmNMEHyFGeywg/Screen%20Shot%202018-11-17%20at%202.57.01%20PM.png)
### Short positions are falling. This suggests retail investors are taking profit. 
![Screen Shot 2018-11-17 at 3.05.28 PM.png](https://cdn.steemitimages.com/DQmQDZgZXzfsZqRN6bq5ipsvf2oteYSgbqjpo4b4DpSVZAD/Screen%20Shot%202018-11-17%20at%203.05.28%20PM.png)
### Long positions are stacking. 
![Screen Shot 2018-11-17 at 3.05.49 PM.png](https://cdn.steemitimages.com/DQmSdSpocmJmBRzqTMW5YTuSFacbZJTqVRMCKx6NLmoUHsG/Screen%20Shot%202018-11-17%20at%203.05.49%20PM.png)
### As you can see, longs outweigh shorts by a decent margin. This suggests market makers may try to liquidate those long positions. In today’s video analysis I discuss, where price may go next, traps to avoid, market psychology and so much more. I hope you find it helpful. 
### Side note: I’ve been sick for the past 2 days. If I sound tired in the video, that’s because I am.
## Video Analysis:
https://youtu.be/unJ54g86hcA
#### *If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/@workin2005) or Steemit in order to watch.*

**I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!**
### *Workin*
## **If you found this post informative, please:**
![upvote.gif](https://steemitimages.com/DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk/upvote.gif)

**Open an Account on Binance here:**
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**Twitter handle is @Workin2005 and Facebook is https://www.facebook.com/Workin2005**

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created2018-11-17 20:16:54
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vote details (179)
@bitbrain · 
Great analysis workin, I agree.
👍  ,
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vote details (2)
@workin2005 · 
Thanks BB.
👍  
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@rollandthomas · 
Great analysis, I like your level near $4500.
👍  
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@workin2005 · 
Thanks Rolland. Yeah, I think there’s a good chance we test $4,500.
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@yankee-statman · 
good work....concern here is sentiment...yes it's better..(less bulls)..but alarmingly remains far lower than we must have to generate anything substantial to the upside here...imho..we may "need" to visit 4500 or somewhat lower.
👍  
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@workin2005 · 
I couldn’t agree more.
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