Bitcoin is currently in a on the Daily, which will see a solid breakout coming.
To the downside we have $9k psychological as potential target.
To the upside we have $11k and $12k. There is currently a which many of my colleagues are pointing to (the blue one), and which could be broken to the upside in this case.
But don't forget that on the Weekly chart, this channel completely dissapears, and we rather have a Double Top, with a top close at $11,5k and the Pullback Low at $9,5k, which needs to be broken to the downside by the bears to see follow-through.
Conclusion: If the bears break through the Pullback Low, we could see continuation for the next couple of months. But if the bulls manage to make higher Lows at the current range of $10k, and come to the same ceiling at $11,5k for yet another time, we will have the potential to turn this into an on the weekly eventually, which will be highly . The great thing about being a real trader is: You can play those breakouts with up to 20% potential, no matter in what direction we eventually break.
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SHORT BITCOIN - Elliott Wave Double Three Combination