So if we follow BTC correction trend from 10k to 5.7K it seems as if it has been forming a falling wedge pattern where we should expect a reversal happening as the downward trend is becoming compressed and a falling wedge reversal pattern indicates that the price should move to the price where it was at the top of the wedge which is 10k value however I would expect this run to take as much time as it did for the correction from 10k to this point which means we experienced cycle 1 which was the correction and now it seems as if we are at the start of cycle 2 ( each cycle = 50 days). So to all my HODLERS, buy now as this is a lower price and sell when we reach 10k if the price breaks this resistance then next resistance is 12k so buy back again after we break 10k and sell at 12k. To all my traders of other crypto currencies, a lot trade opportunities are coming up keep your eyes on top altcoins such as ADA, XLM, XRP, ZEC, VTC (very undervalued great opportunity), ETH, IOT, NEO, STRAT (very undervalued great opportunity), XEM, LTC.
Good Luck, traders!
Good Luck, traders!
RSI oversold in 4h
MACD close indicating a breakout soon
Good Luck!