As we end April, we can see a similar size candle to the one we saw in April 2017 and, if we are still following the 2013 - 2017 Fractal ( even if a little loosely now) then we can expect the next Few months to lead to the Next ATH.
However, as explained in the previous post about the Long Term Resistance Arc and how we may be in the Closing stages of the First Bitcoin Cycle, the over head resistance is STRONG ( dashed Arc )
These 2 lines of resistance at around 109K usd form an intersection and this is with little doubt the point to try and break through. Historically, BTC PA has tried to aim towards intersections of Trendlines when they have strength
So, This is what I am expecting for MAY but I will explain this in more detail in the montlly Candle Colour post in a couple fo days
What to expect
The April candle Will close GREEN and we now need a Green MAY candle and this MAY candle needs to break over the dotted Threshold line, as it did in May 2017
And we have to wait and see if that happens
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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.