Look at the red trend line . It's the main donwtrend line which started from 19900$ position,then passes through the 17000$ and today's position 11700$. The other trend line is green uptrend line. That started from the deep postion 6000$ and still continueing. Now, when we associate both of them, it seems a symetrical triangle. That triangle has totally 2 current resistance and 2 support points.
And also, it is the crytical position for BTC -0.57% . I think, it will break the resistance and target to 12000. Because, after 5th point of Elliot wave ended, a new up-rising started. New uptrends is allocated at the end of the current triangle's top-resistance level. So we can say that, "Yes, this trend line will break the resistance and go to 12000 $ band.
If this scenario occurs, a new and really perfect graph will be completed. This is the "Big Inverse H%S pattern" . Then we can say that, BTC -0.57% will target to ~18000$ level.
Next days will show us the truth. My own idea, good news about market powers this uptrend scenario.
NOTE: You can make your own analysis.
And also, it is the crytical position for BTC -0.57% . I think, it will break the resistance and target to 12000. Because, after 5th point of Elliot wave ended, a new up-rising started. New uptrends is allocated at the end of the current triangle's top-resistance level. So we can say that, "Yes, this trend line will break the resistance and go to 12000 $ band.
If this scenario occurs, a new and really perfect graph will be completed. This is the "Big Inverse H%S pattern" . Then we can say that, BTC -0.57% will target to ~18000$ level.
Next days will show us the truth. My own idea, good news about market powers this uptrend scenario.
NOTE: You can make your own analysis.
Trade active:
BTC price broke the triangle's upline.. Moving the target by small corrections.
Trade active:
BTC movement to the up is still conitnueing with small corrections and still within the channel. Even BTC movement is really healthy for the next weeks. Not move crazy, increases and creates inverse h&s pattern really steady. So,we can say that BTC will rise to 17K in the nexr month. Middle of April may be. These are my own thoughts and analysis. You can make your own.
Thank you.
Thank you.