The beginning of the correction was clearly confirmed in 20 December after MA 50 & 200 crossed each other (Red Arrow). Today, MA finally crossed each other again, indicating that we're in the bullish trend again. In the last correction, after MA 50 crossed MA 200 in the upper direction, BTC increased its value in almost 200%. If that's true, we can easily see 35k in 2018.
Note
Yesterday, a header and shoulders pattern formed, but based merely on the MAs, we should still be on the track, unless they cross back again. Let's see if the trend goes up back to the resistance level.Note
This can be our new trend line: Note
MA 50&200 are about to cross each other back in 4h and 1h. There's a possibility we could retrace back to 7k:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.