With Bitcoin braking the symmetrical triangle to the downside I had seen it as a high probability that we will test the 21 week EMA, before the uprend continues.
On my previous published chart you can see why this can be considered very likely:
After touching 30.000 USD (0.618 fibo) the price climbed back above the 0.5 fibo. At the moment I am watching from the sideline, waiting for the price to brake one of my "no-trade-zone-lines".
Below 30.000 USD I expect a continuation of the correction and a retest of the 21 week EMA. This EMA currently sits at about 23.500 USD.
If we climb above 34.000 USD, I expect a continuation of the bullrun to at least 50.000 USD.
I would appreciate your feedback!
Updates will follow...
On my previous published chart you can see why this can be considered very likely:
After touching 30.000 USD (0.618 fibo) the price climbed back above the 0.5 fibo. At the moment I am watching from the sideline, waiting for the price to brake one of my "no-trade-zone-lines".
Below 30.000 USD I expect a continuation of the correction and a retest of the 21 week EMA. This EMA currently sits at about 23.500 USD.
If we climb above 34.000 USD, I expect a continuation of the bullrun to at least 50.000 USD.
I would appreciate your feedback!
Updates will follow...
