BitcoinLong
BTC run to 7K mapped out
BTC UPDATE: Daily Chart: The following chart is based on Market Structure, Ichimoku indicator and supports/resistances. My most likely path is the solid yellow line. The dotted lines are potential tangent runs with what I feel are lower probabilities. We are seeing what could be the beginning of a relief leg (bullish leg during a bearish market) for BTC. We just started an upward leg for BTC which we believe will be rejected around 6700, retrace a few hundred dollars, and then head back up to end around 7000 USD. I think we may see a retracement from current levels or a little higher(6600 to 6750) to maybe 6200 to 6300 support area and then begin our rise again. Then we may see a rejection at 7000 around the Kumo cloud (the red ichimoku cloud). I also think we will try again for 7000, where this will be a decision point for BTC. I am actually betting on a rejection here to head back down, but anything can happen. Once we reach this area, we will have a better idea of the market sentiment and we will make our trades accordingly. Please see the chart below for details.
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