CryptocurrenciesStrategy

BITCOIN: testing the Upper trend-line

8 days have passed already from the last rise and the market seems reacting extremely stable.

Total Market cap blocked around 121 b$ and no signs of pump-dumps around… Thought this is good, some stabilization is needed for the market in order to recover the investors confidence.

The last few hours we have noted a shy change of trend, slightly upwards which is good because BITCOIN may complete the 5th wave if it manage to break the upper trend-line of a long bull flag.

If so, 5 small subwaves would form this last 5th wave. Applying some FIBO levels we could envisage 3722 USD as a feasible target. of course, assuming a bullish scenario.

As a Bearish Scenario, the possibility of getting a sudden drop is still valid if we considere a “falling Wedge” on the 4hour-Chart:

Let’s see what is coming…the most important is to consolidate the 121 $B Market Cap as a good level from which start growing higher.

@toofasteddie


*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.


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