BitcoinLong
#Bitcoin Mega Wedge - heading to $11k.
I like to go back.. way back. I think it gives you better perspective in sideways markets.
What you can see if you start back in April 2017 is what I call the 'Bitcoin Mega Wedge'.
The area above the Wedge (ie. from 7 Dec 2017 to 15 Jan 2018) is where Bitcoin was overbought.
The highest price before it was overbought is ~13.5k - that's where I think it can hit.
My next stops are $8,800 (78.6% fib) and $11,000 (61.8%).
And most important, Bitcoin has broken out of the Mega Wedge (on the upside) which is a huge positive indicator.
Onwards and upwards!
What you can see if you start back in April 2017 is what I call the 'Bitcoin Mega Wedge'.
The area above the Wedge (ie. from 7 Dec 2017 to 15 Jan 2018) is where Bitcoin was overbought.
The highest price before it was overbought is ~13.5k - that's where I think it can hit.
My next stops are $8,800 (78.6% fib) and $11,000 (61.8%).
And most important, Bitcoin has broken out of the Mega Wedge (on the upside) which is a huge positive indicator.
Onwards and upwards!
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