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
