Since BTC effects ETH, we should always have our eyes how BTC moves as well.
Very simple chart.
Right now we can see BTC shaping a ascending triangle, the sloping line from previous support from ATH will act as strong resistance. Current bullish flag is targeting the same resistance. Ascending triangle targeting dotted resistance from previous ATH.
BTC will be working towards a new ATH in June 2018. The rally will start under the month of May.
However, If the price reaches the red circle and pushes past it there is a chance we could make a parabolic rally directly to 12k (dotted line, resistance from ATH), this changes the trajectory for my prediction.
Good luck trading
Very simple chart.
Right now we can see BTC shaping a ascending triangle, the sloping line from previous support from ATH will act as strong resistance. Current bullish flag is targeting the same resistance. Ascending triangle targeting dotted resistance from previous ATH.
BTC will be working towards a new ATH in June 2018. The rally will start under the month of May.
However, If the price reaches the red circle and pushes past it there is a chance we could make a parabolic rally directly to 12k (dotted line, resistance from ATH), this changes the trajectory for my prediction.
Good luck trading
Comment:
Price got rejected on top of the flag, it might consolidate in the flag pattern before next attempt. Personally I'd be a careful right now but I might open a long if we go above the blue dashed line 6866 or below the lower dashed line at 6033. RSI is currently high on the 2h so there is arisk for more downside right now.
Comment:
A completed, looking for B now 6846 is a Point of interest.