Keeping it simple and following price action, I'm going to focus on the 4hr chart from December 2017 in similarity to current price trends.
Once a 30% correction (bear trap) is initiated, and then regains the 25MA, BTC rides the wave up to a retest of recent highs.
Based on this idea, the following are potential price targets:
12k
12,9k
13.8k
Once a 30% correction (bear trap) is initiated, and then regains the 25MA, BTC rides the wave up to a retest of recent highs.
Based on this idea, the following are potential price targets:
12k
12,9k
13.8k
Note
Comparison to December 2017 price action as below:Note
One smaller time frame correction prior to target reached.
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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.