OK we expect this rise after seeing Ascending triangle that formed and rise was expected and we are looking for more pumping and greater ATH too:
but for now some rest is needed too as you can see the chart ,two strong resistance zone is ahead :
first is the black channel upper side that can mange price to fall like previous time that is shown with Red arrow
second one that is stronger resistance zone that formed due to two reasons 1.red trendline (this trendline is kind of ATH trendline and maybe we see correction once again too with it) 2.major channel upper side that is strong resistance zone too
Targets : A. 61200 B. 58000
Notice :BTC is really strong and pump and rise can continue like what we mentioned on previous analysis so consider it too
DISCLAIMER: 1.trade carefully and have stop loss for sure 2.Past performance is not indicative of future results.
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Comment
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great rise ready to rest based on previous analysis ?
Comment
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correction started ???
let us know in comments and what targets you are looking for ?
Good chart. The growth is still exponential, so Log scale would be better to view the graph - in my opinion. The upper redline stays intact, but the bottom one - the violet - would move up at steeper angle.
Looking at Glassnode metrics, Whales continuously unload the BTC , so this is a sign of being cautious and ready for local peak. In my analysis (opinion) this will happen between 64K-72k - so we are already there.
Time to take 20-30% off the table.
Apaulsen35
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Not expecting retracement like that till it hits 66k, then retest 62k, then to 70-74k before larger correction.
MMBTtrader
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@Apaulsen35, we will soon find out dear and thanks for feed back
Do you think we can reach 150,000 this year?