BitcoinLong
#Bitcoin Mega Wedge - heading to $11k.
I like to go back.. way back. I think it gives you better perspective in sideways markets.
What you can see if you start back in April 2017 is what I call the 'Bitcoin Mega Wedge'.
The area above the Wedge (ie. from 7 Dec 2017 to 15 Jan 2018) is where Bitcoin was overbought.
The highest price before it was overbought is ~13.5k - that's where I think it can hit.
My next stops are $8,800 (78.6% fib) and $11,000 (61.8%).
And most important, Bitcoin has broken out of the Mega Wedge (on the upside) which is a huge positive indicator.
Onwards and upwards!
What you can see if you start back in April 2017 is what I call the 'Bitcoin Mega Wedge'.
The area above the Wedge (ie. from 7 Dec 2017 to 15 Jan 2018) is where Bitcoin was overbought.
The highest price before it was overbought is ~13.5k - that's where I think it can hit.
My next stops are $8,800 (78.6% fib) and $11,000 (61.8%).
And most important, Bitcoin has broken out of the Mega Wedge (on the upside) which is a huge positive indicator.
Onwards and upwards!
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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.
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.