TheRealCryptoMike

TheRealCryptoMike

As we can see, suddenly price went down almost on $200 and now it seems like it's possible to break out the uptrend channel If so, the next strong support levels are ~8700 & 8450

TheRealCryptoMike

BTC broke downtrend channel and just have formed new uptrend channel and also flag pattern Target for this pattern is about 9700 level

TheRealCryptoMike

I expect that BTC will go to 0,6 fib level and also this target is almost the same as a target by Tomas De Marko theory Stop limit above violet trendline

TheRealCryptoMike

Daily BTC graph works absolutely perfect for me It interacts with every possible strong resistance/ support / trend / fib line So the conclusion that we are currently bullish, until level 9200 Also, you can notice MA 50 & MA 100 cross what is an additional long signal Then some correction is needed

TheRealCryptoMike

Now we can see bull flag pattern, it means the current target should be the same length from his breakdown point as flag's stick Also, there are very common fib level and resistance level here Another two targets here are just closest resistance levels

TheRealCryptoMike

I think currently the price is preparing to break down the pink trendline, but, before it, it should reflect from the purple global trendline. The temprorary target now is ~ $5950-6100. In my opinion, It's a low probability that 6400 level was the finish line of the downtrend, because of classical market cycles graphs, the new low should be lower than previous...

TheRealCryptoMike

Quite strong BTC resistance zone from 8800 to 9400, there are two scenarios here: 1) BTC resists this level and then it will go up and break global trend 2) BTC falls down and next target is about 8000

TheRealCryptoMike

Possible support lines to BTC price

TheRealCryptoMike

Possible resistance lines for BTC

TheRealCryptoMike

As we can see VEN - BTC price is on expanding channel so possibly price target is ~2x from now