$12800 seems like the ideal target for bitcoin in its current trend, at $12800 there are a several resistances lines including the previous 2017 trend line making it a very likely target to get a reaction from. For the bullish trend to continue I expect bitcoin to maintain in the marked support zone above $11000.
You can see the consolidations in green boxes where price chops sideways in a similar fashion before gaining enough energy to surge upwards. You can see the higher lows being created near the end of this pattern marked by the orange lines. Volume reduces after every surge up which is a good sign. Similar to how we tested the 50DMA before storing energy to break above it we seems to be doing the same with the 200DMA.
At $12800 I believe the alt coin rally with end as well and likely positions will be switched into bitcoin if it maintains a bullish look. A shift of alt coins into bitcoin could also provide the push needed to break $12800
You can see the consolidations in green boxes where price chops sideways in a similar fashion before gaining enough energy to surge upwards. You can see the higher lows being created near the end of this pattern marked by the orange lines. Volume reduces after every surge up which is a good sign. Similar to how we tested the 50DMA before storing energy to break above it we seems to be doing the same with the 200DMA.
At $12800 I believe the alt coin rally with end as well and likely positions will be switched into bitcoin if it maintains a bullish look. A shift of alt coins into bitcoin could also provide the push needed to break $12800
Comment:
And nice big green candle stick on my green up arrow with my channel holding perfectly. So far things are going as planned. The completed move should land us at 10400-10800.
Comment:
Original idea more accurate
