UPDATE 5
BTC is back above the recent resistance line ($48,000) which has now become support, just like the last time. The pattern seems to still be alive. An upside breakout is expected in the middle of this week.
UPDATE 4
Good sign: the recent dip closed at the rising support line (right blue dot / right blue line) at roughly $47,000. This is exactly what happened the previous iteration, where the price fell to the rising trend line (left blue dot / left blue line). For now, the pattern appears to still be alive.
ORIGINAL
Hey, folks. BTC seems to be repeating a recent pattern that should take it to around $58,000 by the middle of next week.
The first iteration of this pattern (left) saw BTC rise to $38,000 (left orange line). This level became resistance (left red dots) at first. BTC then punched through this line up to $41,000 (left green line). It then retested $38,000, which became support (left green dots). When BTC met the rising trend line (left blue line), it then shot up $10,000 to $48,000.
The pattern seems to be repeating again. This time, $48,000 is the resistance level (right red dots). Soon, BTC should punch through this level up to around $51,000 (right green line). It should then retest $48,000, which should become support (right green dot ). When BTC meets the rising trend line (right blue line), it should shoot up another $10,000 to $58,000 (or more).
The next big move up should happen by around the 17th. Enjoy!
BTC is back above the recent resistance line ($48,000) which has now become support, just like the last time. The pattern seems to still be alive. An upside breakout is expected in the middle of this week.
UPDATE 4
Good sign: the recent dip closed at the rising support line (right blue dot / right blue line) at roughly $47,000. This is exactly what happened the previous iteration, where the price fell to the rising trend line (left blue dot / left blue line). For now, the pattern appears to still be alive.
ORIGINAL
Hey, folks. BTC seems to be repeating a recent pattern that should take it to around $58,000 by the middle of next week.
The first iteration of this pattern (left) saw BTC rise to $38,000 (left orange line). This level became resistance (left red dots) at first. BTC then punched through this line up to $41,000 (left green line). It then retested $38,000, which became support (left green dots). When BTC met the rising trend line (left blue line), it then shot up $10,000 to $48,000.
The pattern seems to be repeating again. This time, $48,000 is the resistance level (right red dots). Soon, BTC should punch through this level up to around $51,000 (right green line). It should then retest $48,000, which should become support (right green dot ). When BTC meets the rising trend line (right blue line), it should shoot up another $10,000 to $58,000 (or more).
The next big move up should happen by around the 17th. Enjoy!