BTC looking to break out of it's consolidation pattern
BTC needs to stay supportive on top of the major pink trend line to continue its parabolic expansion onwards in a new trend beyond the channel it's held through 2017. Currently it's held a perfect 61.8% retracement of it's last impulse wave. Currently forming a triangle consolidation pattern containing a W double bottom. Most signals look bullish. Showing oversold conditions and the 1 Day Stochastic RSI is turning up showing an upwards momentum. Targets marked in red but could easily get impulsive and push for the higher fib extensions. The FOMO is real!
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.