Currently looking to contest the 0.382 fib level at $0.55, but will most likely blow past to the 0.5 fib level where it will face resistance around $0.70.
But overall long term is very bullish here, and it will reach for $1.03 or $1.27 within 2 months.
Multiple patterns to look at.
1) Cup and Handle - Bullish at this moment.
2) Inverse Head and Shoulders - Bullish when you zoom in a little bit.
3) Fibb level of 0.236 - Bullish because this isn't a level things like to stay in during a bull market.
4) Strong Support at $0.37 - It's already very close to the support levels, and it keeps bouncing off it. That means it's ready to push up violently.
5) Completed Head and Shoulders on 1D - It has completed the Bearish H & S and played that out. So now it's time to complete the bullish patterns.
Warning: Bullish play will be delayed if bitcoin drops heavily, but I would place buys around 0.35 for sure.
Near term targets: $0.54
Mid term target: $0.6
Long term target: $1.0 or $1.24
But overall long term is very bullish here, and it will reach for $1.03 or $1.27 within 2 months.
Multiple patterns to look at.
1) Cup and Handle - Bullish at this moment.
2) Inverse Head and Shoulders - Bullish when you zoom in a little bit.
3) Fibb level of 0.236 - Bullish because this isn't a level things like to stay in during a bull market.
4) Strong Support at $0.37 - It's already very close to the support levels, and it keeps bouncing off it. That means it's ready to push up violently.
5) Completed Head and Shoulders on 1D - It has completed the Bearish H & S and played that out. So now it's time to complete the bullish patterns.
Warning: Bullish play will be delayed if bitcoin drops heavily, but I would place buys around 0.35 for sure.
Near term targets: $0.54
Mid term target: $0.6
Long term target: $1.0 or $1.24