If we look at what happened before, we can expect a new touch on the support line close to $ 3,000.
This may be a good time to purchase.
Another good time, especially for those who are more conservative, will be when the price can exceed the moving average of 55 periods.
RSI and trading volume should confirm these buying signals.
We know that in this cryptos market the story almost always repeats itself.
We are currently in a movement very similar to the previous periods that are highlighted in the chart.
Big chances we're on our way to 12k.
It remains to be seen what the price move will be after we reach 0.38 fibonacci.
We can go to 60k if we are living a Dejà vu of 2013.
Or else drop to...
I had not realized the formation of this pattern.
Please correct me if I am seeing something that does not exist.
I sincerely hope I'm wrong.
Of course, only very bad news that shakes its foundations can trigger this FUD.
After the third touch on the trendline the price formed a head and shoulder pattern and theoretically should retract up to the levels of 0.5 - 0.61 - 0.78 Fibonacci.
To those who believe that it is time for Bitcoin to resume its upward trend this would be a good area to buy.
But we must closely monitor the price movement and limit our losses with the stop...
Since 2016 the moving average of 144 periods has been determining the end of major corrections.
We are about it at the moment and in my opinion, it is time to decide if we will continue the upturn or if we are facing a trend reversal that can trigger a bear market just as occurred in 2013 when the market was in similar circumstances .
I still think we'll be surprised by B.
As you can see here fork.lol Bitcoin Core's periodic difficulty setting is scheduled for tomorrow 24, around 4pm.
It will become more difficult and consequently less profitable to mine Bitcoin, and it is at this point that miners tend to migrate their computing power to Bitcoin Cash.
The price made a strong leap from the trend line formed by the bottom of the previous channel.
At the moment (As can be seen here: fork.lol) mining BCH is absurdly 80% more profitable than BTC.
BTC found difficulty in overcoming the 8k.
It looks like the game is about to start.
Were we walking to a new high or just doing a pullback like the other times?
The key point could be around $ 7350
In my opinion we still have to wait for wave C.
And maybe the waves D and E are coming.