I Expect to see a breakout out of this range within the next few days, in fact it can happen at any moment now. a break above $10 950 will most likely result in a quick move all the way to $12000. and a break of $10 100 will probably result in a quick move down to $9000.
That does not change the medium term trend as we are still in a consolidation phase. if we...
It appears as if Bitcoin wants to cool down in the current range between 13 800 and 9600. As can be seen above, two possible scenarios if Bitcoin consolidates in this range.
1. The first scenario, and in my opinion the most likely one, is that Bitcoin forms a descending triangle over a few months with lower highs being created along the way and a base at the...
Bitcoin is currently creating lower highs and lower lows, and a new lower high has been created at 12 061. This has led to a clear downward sloping channel being created as can be seen above.
Three possible scenarios
1. If Bitcoin turns up from here and take out the lower high of 12 061, the downward channel is broken and we will look to retest the high of...
Breakout can be expected any time now with initial target of 11 000 - 11 200, and then a slight bounce to create another lower high around 11800 - 1200. Then a larger correction to create another lower low with targets at 9000 - 8500
As seen on the chart, it appears as if Bitcoin could be forming a falling wedge at the moment, support likely to be found somewhere around the 9500 mark and then a possible bounce back to 10 000 - 10 500 to retest the top of the wedge. If the wedge plays out, it is expected to take its time with a breakout in the next week to two weeks.
