The inversed head and shoulders that i called in channel is now completed and considering the pattern we have our 1st target arround 13K area.
Indicators at this moment i write are not so bullish in 4 hrs chart in indicators, but we broke 4hrs ichimoku cloud and we are for sure bullish in 1 day chart ( RSI oversold and MACD crossing up ). Bitcoin has also several resistances coming including the MA200 that we will face now in 10K area ( We already crossed MA50 and MA100 in 4hrs chart). We came and we are in a downtrend, but Bitcoin showed us in last days that it can slowly break resistances and move forward to the next one's. So what i am expecting to might happen? I see Bitcoin touching at first all these resistances and making small bounces at first, but then it will probably have several more attempts until it cracks these resistances slowly and then after reaching 13k area it will decide if it will make a new ATH or if it will continue in the downtrend. Remember that you must do your own research and you must never follow blindly my ideas. Good luck and as usual i hope i am right !
Indicators at this moment i write are not so bullish in 4 hrs chart in indicators, but we broke 4hrs ichimoku cloud and we are for sure bullish in 1 day chart ( RSI oversold and MACD crossing up ). Bitcoin has also several resistances coming including the MA200 that we will face now in 10K area ( We already crossed MA50 and MA100 in 4hrs chart). We came and we are in a downtrend, but Bitcoin showed us in last days that it can slowly break resistances and move forward to the next one's. So what i am expecting to might happen? I see Bitcoin touching at first all these resistances and making small bounces at first, but then it will probably have several more attempts until it cracks these resistances slowly and then after reaching 13k area it will decide if it will make a new ATH or if it will continue in the downtrend. Remember that you must do your own research and you must never follow blindly my ideas. Good luck and as usual i hope i am right !