SherabPereira

SherabPereira

Bull flag formation, and the possible 2nd elliot wave, volume is low but MA 50 about to cross MA 100 from below also MA 100 slowly heading up and correcting that downtrend direction, MA 200 acting as a resistance sitting just at 0.618 fib retracement, it looks solid. Bitcoin now its in a small bull run that should end around 9300 level to consolidate at 7300 key...

SherabPereira

Based on the cost of mining 1 BTC (around 8k), the fibo and the general trend, I could say that the BTC downtrend is coming to an end, going long here, target 11k.

SherabPereira Updated 

Looks like Bitcoin is not being able to break the bearish channel it's in, I'm expecting it to hit 8000 before channeling out that heavy downtrend. Overall looks like it is continuing the long term bullish movement and the average (green) anticipatory upward trend, we may see it bouncing between 12k and 7.5/8k. Toughts?