Further to the last update, the consolidation zone between $9,000 and $9,200 that triggered a sell off in mid-March has been broken by a smaller timeframe break out pattern to the upside. This pattern is about to complete and reach the projected profit target. This is all good news for Bitcoin and confirms the BULLS ARE IN CONTROL FOR NOW.
Where to now?
I would expect after reaching the projected profit target a small retracement and the $9,000 level. This should hold as support before we see further buying interest and a push higher. This could also coincide with the alt pairs having a small breather aka profit taking.
Now we wait for the next breakout pattern to form before adding to long positions.
Enjoy.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Where to now?
I would expect after reaching the projected profit target a small retracement and the $9,000 level. This should hold as support before we see further buying interest and a push higher. This could also coincide with the alt pairs having a small breather aka profit taking.
Now we wait for the next breakout pattern to form before adding to long positions.
Enjoy.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
