Bitcoin has successfully broke through the support of the = worked out. Now we forget about this channel, it is not valid anymore. Priority changes to upwards again.
Talking about the real market state, we found a very interesting trend line which follows the price for already two months (don't mess it up with the support of the previous ). We found a which is based on this , but firstly didn't consider one as a trustworthy. Today I took a look at it again, and now it looks much more interesting than before.
Steps of the fractal:
- 1. Fake breakdown of the
- 2. Return backwards and consolidation there
- 3. Real breakdown of the
- 4. Formation of a pattern which looks very similar to a cap with handle
- 5. Upwards breakout of the , then accumulation phase and pump
This perfectly suits the current state of the market: at the moment we are located at the step 5 - accumulation phase before another rush to $10000. This time we can expect a successful breakout of this . The responds to all market rules: breakout, reaching the next major resistance and a correction downside to $10000.
Summary: if we don't break the $9200 - $9300 support in the close future, we can expect a continuation of the accumulation phase and then breakout of $10000 level.
What do you think about my idea? Are you agree or disagree? Share your thoughts and critics in comments!