alexcrypto

Weekly back to 20,000 or revisiting 3,000. Wait for breakout.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
A quite nervous and volatile consolidation is taking place with Bitcoin , we are sitting on the edge of the trendline of this symmetrical triangle.

Bullish scenario

A break on the upsite will see at least 3 steps up with targets at 12600, 15900 and 20,500
A strong momentum and very solid volume is definetely needed to confirm the bull continuation considering the recent uncertainty. Trade carefully .

Beaish scenario

A break on the downside will lead to an impulsive momentum on the downside.

2 targets are expected looking at fibonacci and previous support areas: 5100 and 3000 dollars

Overall indicators are sitting in oversold territory in lower timeframes so a quick bounce on the upside is quite likely before estabilishing o a direction given by the pattern breakout.

Trade Safe
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