To complement the pitchfork analysis from yesterday:
Like the pitchfork lines, the fib channel lines are significant according to price behaviour during the uptrend.
Now there should be a rather rapid move to about 310 $, afterwards the next resistance line is at about 800 $ (depending on the duration of the move, which could be short).
An 800 $ target is confirmed by the pitchfork analysis. Conventional fib analysis of the uptrend since dez 2016 confirms 310 $ as a first target.
Like the pitchfork lines, the fib channel lines are significant according to price behaviour during the uptrend.
Now there should be a rather rapid move to about 310 $, afterwards the next resistance line is at about 800 $ (depending on the duration of the move, which could be short).
An 800 $ target is confirmed by the pitchfork analysis. Conventional fib analysis of the uptrend since dez 2016 confirms 310 $ as a first target.
Note
update: fib channel line resistance at 310 was reached rapidly, price is now fiddling around with it, soon to break out.Very bullish chart patterns for a lot of cryptos.
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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.