All indication pointing at one more leg up(at least to level of 7425$-7595$) for BTC before any potential drop .
But history show that when ever BTC is at potential major support or resistance it usually exhibit a pattern of 12345 where price tend to move to the opposite direction of the end of phase 4-5.
The above pattern usually may present itself in the form of divergence either or Divergence dependent on where price direction face.
From the pattern we are presently at phase 3-4 which may take price down to around (7050$-7130$) this is not A MUST to happen but a POSSIBILITY.
Final target for BTC at end of phase 4-5 with this pattern is expected to be between (7425$-7595$).
Then we will have a potential drop that will take us back to 5890$-6057$.
I will keep updating this thread as market proceed.
Thanks for reading through and I will appreciate your likes and please do share our ideas and follow us for more updates.
Here are some of our past hot thread on BTC .
Potential wave pattern for XBT/BTC guys check it out.
Bitcoin Corrective pattern
Potential IHS in formation with target pointing at 8000$-8800$
Possible next move for BTC
Great recovery path for BTC , do have a look.
BTC Typical wave pattern
BTC seems to bounce as largely expected of people that 58XX zone will do the magic. I saw a great analysis on the log scale showing exact price action on a re-test of major level. It worth looking at. If this is correct then BTC will be on with a great moves.
Effect of Magical
The similarities bewteen 2014 and 2018 seems so real, guys check it out and see those facts and figures we might be on for 8400-8800$ according to 2014chart.
This BTC channel show entire BTC lifecyle
BTC trading in tight range of price where we have support at 7229$ and resistance at 7293$.
We are expecting breaking down of this range to test 7150-7000$.
But if price break this range up, we have immediate resistance at 7336$ and follow with 7495$.
Please drop your comment!!!!!