So if you are into Analysis I have something for you that may be of interest. Since the December bottom we have a steady rise. Steady and not aggressive/ parabolic as BTC is still in the Accumulation Phase will most likely stay there for quite some time before it breaks or makes new All Time Highs again.
Steady price action calls for clearer patterns with more standard entry/ exit points. So I attempted to break down this steady rise into 3 Fractals, all having as a common factor the duration, which is approximately 53 days. Assuming the current one (3rd in succession) lasts for 53 days as well, what remains to be calculated is the relative price action within.
If it follows A then it ( C) should make an equally steady decline of around -22%.
If it follows B then it ( C) should trade sideways within 4900 and 5500 until its completion.
If I am taking a pick I would go with A mainly because it ( C) is close to Double Topping around the same time (22 days). Also the rise from their bottoms is more close.
Take your pick and let me know what you think in the comments section!
P.S. For the record (because you may misinterpret my approach), MA analyses and pull back levels are only suitable for buy on the low, sell on the high to short/ medium term traders. Long term investors (like me) should keep what they already have on their portfolio and stick to adding/ accumulating Bitcoins on those pull backs.
In the meantime, feel free to take a look at some related material on BTC: