Bitcoin (BTC / USD) Update - Breaks Triangle - Price up - Key Days
3 days ago announced the breaking of a triangle that was forming the price of bitcoin, up
The target price could reach $ 10,000 again, see the last post to learn more.
The triangle had not broken with good volume what we could expect a readjustment of the upper limit of the triangle in search of a greater upward thrust, which would validate the figure, which almost did
Along the way, he found the midline of MA of 50 peiriodos 4hs that could make a strong resistance, and so it was, overcoming it a few hours ago
The price of bitcoin has reached 0.382 Fibonacci retracement.
- Analyzing the figure of the graph we can draw an ABC of bullish momentum. It should raise the midline MA of 100 periods 4hs to achieve this target.
- Or it could be defined as a 5-wave impulse with the first 2 being fulfilled and the third one should reach up to $ 9500 dollars, up to the midline MA of 150 4h periods.
Another figure we are analyzing is the following
The cup and handle figure mentioned in these days will be fulfilled.
And we will reach $ 14,000 dollars again
What do you think?
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The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.
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