Long

Short term Analysis - BTC to 13k but then what?

is currently in a descending parallel channel, but has a nice support on 10.5 k (2.27 on fib) so once the parallel channel squeezes near the support BTC should be going up again. But then what? It will hit a 13 k (3.27 on fib) resistance, will it have enough momentum to break through? All sorts of news outlets are reporting on BTC so, once the price gets going again, we should have a FOMO fueling the rally. If we break the 13 k resistance I think we might see prices as high as 15.5 k (4.27 on fib).

So I would buy the dip gradually between 10.75 and 10.5 k with stop loss at 10.1 k

On the other hand, if the down trend channel breaks the 10.5 k support, than I regret to say that this bull run is probably over. The "good news"? We'll have support at 8.8 k and 7.5 k.

PS: I'm quite new to trading and this is my first published analysis - Please give feedback so I can improve and learn from your insight :)

AureateDominus

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