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since the ascension of bitcoin in 2017, it still respects the levels of Fibonacci, the most important one is the 50% level.
After the breakout of the upper resistance of what seems to be a flap pattern, the market is following an uptrend.
Now if the prices break down the red trend line , 8110.8 (Fibonacci level) is the next target.
The most probable scenario is If prices continue the uptrend and break the 38.2% level of fibonacci which is also a previous resistance, the next target is 14 000 (pink horizontal line).
Notice RSI is above 50% level and also following an Uptrend.
After the breakout of the upper resistance of what seems to be a flap pattern, the market is following an uptrend.
Now if the prices break down the red trend line , 8110.8 (Fibonacci level) is the next target.
The most probable scenario is If prices continue the uptrend and break the 38.2% level of fibonacci which is also a previous resistance, the next target is 14 000 (pink horizontal line).
Notice RSI is above 50% level and also following an Uptrend.
Comment:
It seems like as I said the Pink line is a target for our Bitcoin
