Bitcoin Analysis on a broader Time Frame
Bitcoin Forming a Triangle Pattern and Wave D can be expected to visit the resistance trend line of the Triangle. This suggest the target level to be around 10,400.
With the lower highs in the Triangle formation, Fib retracement of Wave C suggest Bears to keep the stop loss between 10,100 - 10,400 levels
With the higher lows in the Triangle formation, FIb extension suggest Wave D target for the bulls to be at 10,400.
More importantly, we see a last visit to 10k, from where it can breakout or fall back to 4k levels.
Bitcoin Forming a Triangle Pattern and Wave D can be expected to visit the resistance trend line of the Triangle. This suggest the target level to be around 10,400.
With the lower highs in the Triangle formation, Fib retracement of Wave C suggest Bears to keep the stop loss between 10,100 - 10,400 levels
With the higher lows in the Triangle formation, FIb extension suggest Wave D target for the bulls to be at 10,400.
More importantly, we see a last visit to 10k, from where it can breakout or fall back to 4k levels.