BTC - Final Update - Up to $58,000 if pattern repeats again

FINAL UPDATE

The pattern considered here is pretty much complete, with only about one day remaining. Hence, this will be the final update for this iteration.

I extended the blue support line, which still fits the recent drops (right blue dots). These higher lows are a good sign, as they show buyers are stepping up their bids. This is supportive of a strong surge upward, as the buyers are willing to pay more, and will eventually take-out the sellers.

If BTC does not pop upward by tomorrow night, then we'll have to wait for more good news to lift BTC higher.

UPDATE 5

BTC is back above the recent resistance line ($48,000) which has now become support, just like the last time. The pattern seems to still be alive. An upside breakout is expected in the middle of this week.

UPDATE 4

Good sign: the recent dip closed at the rising support line (right blue dot / right blue line) at roughly $47,000. This is exactly what happened the previous iteration, where the price fell to the rising trend line (left blue dot / left blue line). For now, the pattern appears to still be alive.

ORIGINAL

Hey, folks. BTC seems to be repeating a recent pattern that should take it to around $58,000 by the middle of next week.

The first iteration of this pattern (left) saw BTC rise to $38,000 (left orange line). This level became resistance (left red dots) at first. BTC then punched through this line up to $41,000 (left green line). It then retested $38,000, which became support (left green dots). When BTC met the rising trend line (left blue line), it then shot up $10,000 to $48,000.

The pattern seems to be repeating again. This time, $48,000 is the resistance level (right red dots). Soon, BTC should punch through this level up to around $51,000 (right green line). It should then retest $48,000, which should become support (right green dot ). When BTC meets the rising trend line (right blue line), it should shoot up another $10,000 to $58,000 (or more).

The next big move up should happen by around the 17th. Enjoy!
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