Upside potential after breakout
Broke out of the bull flag, but until now did not gain much traction.
If the breakout keeps valid, we could estimate a target around 380 USD (measured by flagpole method) which was aslo the last high and is slightly above 0.618 retracement.
From there, a nice cup and handle could form.
A drop below the upper flag trendline could take us down to support area around 200 USD.
Keep in mind that the price trend also depends on the BTC trend!
Happy trading
If the breakout keeps valid, we could estimate a target around 380 USD (measured by flagpole method) which was aslo the last high and is slightly above 0.618 retracement.
From there, a nice cup and handle could form.
A drop below the upper flag trendline could take us down to support area around 200 USD.
Keep in mind that the price trend also depends on the BTC trend!
Happy trading
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