BTCUSD
Time frame - Daily
Humans don't really learn the first time. Things must happen again and again before you learn your lesson.
People are spreading bad news about cryptocurrencies and the blockchain technology and yet they are adapting to the latest trends.
Meaning, more and more ICO's and disruptive technologies are popping up everyday! Governments cannot stop the growth of this booming industry. The least that they could do is ADAPT and COPE UP with it.
With that said, let's take a look at the CRYPTO-INDEX. YES! BTCUSD IS THE INDEX OF CRYPTOCURRENCY MARKET! DO NOT FORGET THAT!
It seems to be forming a bullish flag pattern which is a continuation pattern.
Meaning, whatever trend it was in, it will continue IF AND ONLY IF it broke out above of the pattern.
So, if the price break through the resistance, the upside is the same as the pole which is about 145% or around 35k. ;-)
Note that if the pattern does not materializes, the price can go as deep as 3k as illustrated in the chart. (Red dashed lines)
So, with that, good luck traders! <3