hey traders,
though I rarely post my thoughts concerning bitcoin,
tonight I have a very good reason.
as bears pushed the market to 3200 on a daily chart we see heavily oversold rsi.
since December 2018, the price is coiling in a very significant reversal pattern - ascending triangle.
usually, in a strong bearish trend, this pattern leaves clues that the sentiment is changing on the market,
and bears are exhausted.
I will be waiting for a bullish violation of 4000 - resistance level that holds the market.
once this level is broken, it will trigger massive buying reaction from the market participants.
the first target should be a little bit below 5000.0 level,
and the second is around 6000.0.
Targets are based on structure!
good luck!
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