If the market cap doesn't break down after touching bases with ~212 Billion i could see ~425 Billion by the end of the year. Possibly an ALT season while BTC crashes, but that's unlikely as of now. Watch for a break into the lower end of my Pitchfork projection.
Safe trading you guys.
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we should find a pump here back up to ~233-236 Billion, if it breaks support well we are in uncharted waters at that point, will update with a new chart if that happens.
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We may see the market consolidate here for the next 5-7 days and form an ascending triangle, to early to say honestly, but that's my call until it breaks support.
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i don't like the fact we broke through support on BTC's last correction, one more big dump at the wrong time could invalidate this chart quickly. We will see how it turns out in the next few days.
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It's starting to look more like a broadening wedge to me, one more movement down is inevitable, followed by a pump. If we don't retest the bottom line after the pump we may see a recovery. Seems unlikely none the less, but it's something to look out for.
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this looks to be a bullish pennant, but im not all to convinced on that just yet. I could still see this turning into a bull flag with one more move down to ~220-230B, followed by a rally back up to 240B into by a small pull back (235-238B), then another pump to ~280-265B. Only time will tell.