Will BTC price achieve the historical maximum?
Updated
Hello, dear subscribers!
Today we want to briefly analyze the further possible BTC price movement.
At 16th November the price broke up the falling wedge 1, after that huge price growth was. Last two days the price formed the falling wedge trading pattern again. It was broken up again today.
It is a bullish pattern, and there is a high probability of growth continuation.
On the other hand, the Accumulation/Distribution indicator demonstrates the increasing bullish activity for the last two days, while the price is in decline. We have divergence here.
As a result, the indicator and pattern analysis demonstrated the potential price growth. If the price will break up the resistance, we can see the new historical maximum.
Today we want to briefly analyze the further possible BTC price movement.
At 16th November the price broke up the falling wedge 1, after that huge price growth was. Last two days the price formed the falling wedge trading pattern again. It was broken up again today.
It is a bullish pattern, and there is a high probability of growth continuation.
On the other hand, the Accumulation/Distribution indicator demonstrates the increasing bullish activity for the last two days, while the price is in decline. We have divergence here.
As a result, the indicator and pattern analysis demonstrated the potential price growth. If the price will break up the resistance, we can see the new historical maximum.
Comment
The price is testing the previous local high (resistance) level. The A/D indicator demonstrates the weak bearish divergence. We are waiting for the short pullback and growth continuation in case of resistance line breakout. The potential scenario for the price movement is the (1,2,3,4,5) Elliott waves if the pullback will not so big to break the privious high level line.Comment
The BTC price broke up the resistance channel, the profit was received. Now we can notice the local increase in bearish activity - the ADL line demonstrates this. We are waiting for a buy level of $18500, the stop loss is the resistance line breakout with $18350.
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