5 consecutive days of green candles already, despite BITCOIN has not increase so much in volume , BTC has broken strongly the Falling Wedge and so, it is going upwards while trying to break another known resistance at 10800 USD right now:
What I can see here is an interesting Flag pattern in formation. Usually this pattern use to provide till 5 rebounds before breaking the upper resistance (a-b-c-d-e) but it is known that also can be broken on the 4th, so at (d).
This is my current scenario: If the upper resistance (red line) is broken powerfully on (d), it would mean that the correction and so the end of the wave II was already done at (c) around 9000 USD… If, by the contrary, BTC finds strong resistance at (d), it would be likely to have another test of the inclined support on (e), ending there the correction…
In a graphical manner, two options, both bullish, of course:
—
Option 1:
Option 2:
Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
Add your Scripsio!
Comments