The correction we've been waiting for has been delayed and we've seen a breakout from the triangle.
Bitcoin was consolidating within the triangle for quite a long time, accumulating sufficient impulse to reach higher levels before the correction happens.
Short-term outlook:
The triangle breakout pattern suggests us the first target to be at $10,480.
Mid-term outlook:
I still believe, there is a need to refuel to break $11,700 level. Also, many professional traders are waiting for a healthy correction to see if the cryptomarket is in strong hands now that won't panic sell everything with a first sign of significant correction.
Explanation:
If for some reason $11,700 is not broken and the bulls fail to pass it once again and the correction starts near that level, we'll see a new dip below $6K.
Don't forget to press Like if you agree with the above.
Bitcoin was consolidating within the triangle for quite a long time, accumulating sufficient impulse to reach higher levels before the correction happens.
Short-term outlook:
The triangle breakout pattern suggests us the first target to be at $10,480.
Mid-term outlook:
I still believe, there is a need to refuel to break $11,700 level. Also, many professional traders are waiting for a healthy correction to see if the cryptomarket is in strong hands now that won't panic sell everything with a first sign of significant correction.
Explanation:
If for some reason $11,700 is not broken and the bulls fail to pass it once again and the correction starts near that level, we'll see a new dip below $6K.
Don't forget to press Like if you agree with the above.