If bitcoin price exceeds the level where the fibonacci channel, which is obtained by joining three points shown on the graph, shows at 1.618 fibonacci coefficient; it can rise up to 11.000 usd rapidly. If ADX exceeds 45 on daily chart, rising of bitcoin can accelerate.
Red uptrend line can be followed in order to decide if the uptrend continues or not. If price of bitcoin breaks this red uptrend line, fibonacci channel lines can be followed in order to determine new support levels.
Red uptrend line can be followed in order to decide if the uptrend continues or not. If price of bitcoin breaks this red uptrend line, fibonacci channel lines can be followed in order to determine new support levels.
