In my previous posts regarding the Japanese Hammer smashing and bouncing hard off of the 200 MA, I said Bitcoin needed support in the 9k to 10k range to signify reversal. Well it did that and then some! It is now obvious that institutional money is pushing the upward trend as the dips are quickly getting covered. We are currently in the 11k range and looking to break through the next level of resistance at around 12k. If BTC closes above or near that, we will see more gains this week. Possible to even hit 13k or slightly higher.
The Japanese Hammer now represented the end of Wave 4! And we are now only just starting wave 5 and its respective subwaves!
Disclaimer
This information is based solely on my personal opinion and should not be considered professional financial investment advice.