Hi all,
BTC hit our first target from Wednesday, which was the $9,400 - $9,600 zone, surpassing the long-term downtrend and the horizontal resistance. It managed to close at $9,800 yesterday, adding 5.3 percent to its value and almost hit $10,000 during intraday.
What we are seeing currently is a correction to the downside as the coin is trading around $9,400 as of the time of writing and unfortunately made another easy brake below the notorious diagonal line. It is of critical importance to close the workweek in the $9,400 - $9,600 area as this will help us consolidate and set the ground for an attack of the next targets:
- $10,000 as a psychological level and a breakout of the symmetrical triangle (correcting this one a little bit as it is now obvious the gap from $9,600 to $10,000 is easily filled by bulls once the $9,600 level is reached)
We are in a symmetrical triangle pattern since February:
- The year to date high at $10,360.
By the way, this level looks quite heavy as you can see, it was hit several times already in the last 7-8 months
It was also seen as a major barrier in front of bulls back in 2018:
Cheers,
BTC hit our first target from Wednesday, which was the $9,400 - $9,600 zone, surpassing the long-term downtrend and the horizontal resistance. It managed to close at $9,800 yesterday, adding 5.3 percent to its value and almost hit $10,000 during intraday.
What we are seeing currently is a correction to the downside as the coin is trading around $9,400 as of the time of writing and unfortunately made another easy brake below the notorious diagonal line. It is of critical importance to close the workweek in the $9,400 - $9,600 area as this will help us consolidate and set the ground for an attack of the next targets:
- $10,000 as a psychological level and a breakout of the symmetrical triangle (correcting this one a little bit as it is now obvious the gap from $9,600 to $10,000 is easily filled by bulls once the $9,600 level is reached)
We are in a symmetrical triangle pattern since February:
- The year to date high at $10,360.
By the way, this level looks quite heavy as you can see, it was hit several times already in the last 7-8 months
It was also seen as a major barrier in front of bulls back in 2018:
Cheers,
