BTCUSD will the price cross 10k or not ?BTC started recovering in the middle of April and now is crawling up day by day. The price touched $10 000 level and went back. We analyzed the situation and found that there were such situations in various time frames in the past. There are multiple Gartley butterfly patterns that are followed by a decrease when price during consolidation breaks through Ichimoku cloud down. This was repeated twice: the price goes down and forms small double bottoms then recovers back and forming another Gartley butterfly, consolidation before forming second "wing" breaks Ichimoku cloud and people sell BTC making a significant fall.
As we can see the price went above Ichimoku cloud and touched Fib 0.618 resistance level then it went down. Everything looks like the pattern should repeat, however this time news background and higher trader confidence may affect the price behavior.
There are 2 possible scenarios:
1. There will be the third Gartley butterfly pattern and further decrease to $8 000 zone if the price goes below Ichimoku cloud.
2. If support of Ichimoku cloud around $9 000 holds there will be a bounce and bullish breakthrough to a higher level of trades
There is no clear strategy whether to short BTC or go long right now. We should wait till the price bounces from Ichi support or breaks through it.
BTC dominance is still very low it is 36.91% so it is better to trade alts now. However there was a period of significant growth so it should be followed by a correction right now.
We recommend to wait and buy cheap alts, so when the market will recover again we all will have an excellent profit. All decent coins that should be bought at dip will be posted in the Premium channel only.
