Is Bitcoin finally ready to break the 3000 mark again?
The purple trendline is the one to watch after the black trendline below it has been broken.
As long as price action does not form a lower low below 1, we will still be bullish near term.
The 1234 breakout pattern is still valid at the moment.
The next possible scenario is price action retracing right below the 3k mark again.
The difference between the 1234 and ABCD pattern is that:
1234 pattern charts the possible hight of where the price might hit after a breakout of a trendline
ABCD patterns spots the possible area of the pullback. At that point of time oppotunity to buy again will be available, having in mind the price reaching point 4.
The 3k point also marks a psychological resistance area, with high probability of failure to break, forming a double top.
News update
Fidelity Raised $9 million worth of BTC in 2017 Source: Coindesk
Segwit2x to realease new codes tmr Source : Coindesk
Usual Disclaimer
Dear steemians,
For my steemians that are new here, I chart and update possible scenarios. Anyone telling you they can chart once and that will happen definetely, you have to link me to him/her. Over the years, charts to me are constantly updated as price action forms new scenarios etc, if you are trading on my chart and expecting guarantees, you will be disappointed for sure. "Triangle formed yesterday cound most definetely become a rectangle today" But I will always point out the highest probability scenario to you.
*I am not a guru...
*These chart and infomations provided are my personal view and ideas on the market, use it at your own risk.
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