Bitcoin is still out of the down channel

28 feb 2018

At the beginning of this day bitcoin has officially broke out of the downchannel and still is. There is a major support around the 9500 level and the down channel will cross that support around the 7th of march. If bitcoin is able to stay above the down channel till then, it is very unlikely that we'll fall back into it because the major support will hold us above it. Bitcoin is also still completing its right shoulder as you can see on the 4h chart and that should bring us to 12k easily. Like is predicted before it is very likely that a new rally to the upside is about to begin. Lets see what happens.