Bitcoin, W1 - another rally
The price of BTC rallied yesterday above 7500 USD. As a consequence, the market seems to permanently breaks the recent resistance at 6515 USD. In our previous analysis we have mentioned that the price of BTCUSD has created a potential harmonic pattern with huge volume at the end of point D.
The next potential target for a possible upward movement could be located at the line drawn through the tops. It is a possible resistance to a huge Gartley pattern.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The next potential target for a possible upward movement could be located at the line drawn through the tops. It is a possible resistance to a huge Gartley pattern.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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