AVA_crypto

What is the next Target? 12k or 6k?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We already reached the Target of the last Head Shoulder Pattern. There was a huge support around 6k. Now you can see a new HS Pattern but this time it is reversed. It is not important as the previous one because you can't see it on daily candles. But the target of the new pattern would be around 12k. It will bounc back there, because we will reach a very hard resistance at 12k. It Should then bounce back at the red line to test the resistance again. Will it break the big red trendline? If yes, that could be the signal for a new bull run.

Now we are at $8,600. Wait for the next resistance to break around $9,070 - $9,120. If it fails, we will get the next support around 6k. If not, the next support would be 3k. So be very carefull now.

My advice. Wait a few more days for action.
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