There are two options if BTC allow them:
1) price goes down from here, retests that support (dashed line) and then go back up to break out;
2) price goes slowly up until break out.
In any case at break out there'll be most likely a retest of the upper channel band. The target on the chart is the minimum I expect, however if all DeFi stuff start pumping altogether like it did in the past month it can easily go double digits.
Remember: this is all if BTC doesn't go crazy. Unfortunately in cryptomarket if BTC goes down people freak out and sells everything. Which makes no sense to me, is like betting against your own team only because the strongest team of the league loses.
Use the support as SL.
1) price goes down from here, retests that support (dashed line) and then go back up to break out;
2) price goes slowly up until break out.
In any case at break out there'll be most likely a retest of the upper channel band. The target on the chart is the minimum I expect, however if all DeFi stuff start pumping altogether like it did in the past month it can easily go double digits.
Remember: this is all if BTC doesn't go crazy. Unfortunately in cryptomarket if BTC goes down people freak out and sells everything. Which makes no sense to me, is like betting against your own team only because the strongest team of the league loses.
Use the support as SL.
Comment:
UPDATE: so first option it was. It's bounced back on the support, clearly visible at 1h timeframe but if BTC dumps too much support won't hold. Let's see how this evolves