BTCUSD Forming New Upward Trend 9k to 13.500 by The Year End!
Hi, by the end of July Bitcoin has broken long term bearish trend crossing 10k towards 12k. Looking at the 3 day timeframe, bitcoin is now retracing towards Fib 1 @9.000. I believe it is forming a new upside trend and 9k will be the second lower leg that will create a new triangle. The thick red line is aimed at the intersection of fib 1 @9.000 and the long term bearish trend line, forming the new upward trend. I believe bitcoin will bounce from 9k, because if it goes further down, it won't be able to create a long term bullish channel. From 9k, the new target looks like 13.500 by the year end. After that it will retrace down to 7k for a healthy continuation.
Good luck!
Good luck!
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