There is a pattern (in purple) signifying a trend continuation of the previous uptrend, we can expect the height of the previous climb being the maximum amount this breakout will raise the price of BTC .
The pattern is approaching the and once it reaches this, we should see a lot of activity and . This movement will move in the direction of the green arrow. I suggest to buy within the price range of $10,000 - $12,500 however I believe you'll also gain a nice profit if you buy at a slightly higher price too.
Targets are right below visible resistance that the graph has shown and are as followed with percentage profits calculated using buy range stated above:
Target 1 : $16,768.69
Profit : 34% - 68%
Target 2 : $19,217.66
Profit : 54% - 92%
Target 3 : $21,862.55
Profit : 75% - 118%
Now I believe that once the $20,000 price is breached, there could also be a very strong psychological support driving the price even higher! For this reason, I would recommend keeping some of your investment after Target 3 has been reached.
If you have any questions or comments, please comment or send me a message, I try to reply to them all :)
Please keep in mind that I am not a financial adviser, please trade at your own risk.
My idea is that the Chinese took out money from their portfolios ( and BTC ) in preparation for Chinese New Year and this caused the price to fall that low.
The quick bounce back shows strong support around the 9,300 to 10,000 area and I feel like this could be the worst of it and the arrow will actually start now ( 5 days earlier ) so it only makes sense that we can predict target 3 being hit by the 11th of February!