Bitcoin(BTC) update : Ongoing flat correction
Yesterday BTC price is seems like change to downtrend, but I think it's a part of correction and BTC is in a ongoing flat pattern.
As you see in the chart, BTC can move to target $9300 point that touched before in correction (A) wave. At $ 9300 point the price will move upwards with the support of long-term downward trend line(a red dotted line). After this correction has complete, BTC can move to $14000, but this price trip may not be so kind.
I indicated two areas where delays are expected to occur (# 1, # 2). In these two areas, # 1 can be breached more easily than #2, but in # 2, BTC can be take deep correction and turn into a downtrend. So, when BTC has reached zone # 2, we will have to watch BTC price changes carefully.
Separately, I added a green area to the chart. This green area is a timeline where altcoins are expected to make meaningful price changes. I expect that altcoins will show an upward trend in this timeline.
As you see in the chart, BTC can move to target $9300 point that touched before in correction (A) wave. At $ 9300 point the price will move upwards with the support of long-term downward trend line(a red dotted line). After this correction has complete, BTC can move to $14000, but this price trip may not be so kind.
I indicated two areas where delays are expected to occur (# 1, # 2). In these two areas, # 1 can be breached more easily than #2, but in # 2, BTC can be take deep correction and turn into a downtrend. So, when BTC has reached zone # 2, we will have to watch BTC price changes carefully.
Separately, I added a green area to the chart. This green area is a timeline where altcoins are expected to make meaningful price changes. I expect that altcoins will show an upward trend in this timeline.
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