Based on my theory I expect that Bitcoin is ramping-up and getting ready for a rebound.
As there was a strong correlation between Bitcoin and BTC share price in the last weeks, BTC should move higher from the current point.
From a short term perspective prices between 1.20 and 1.50 CAD $ look realistic to me.
Indicators MACD and StochRSI are also well-prepared for a reversal and would support the creation of a new upward channel, based on the current price level.
As there was a strong correlation between Bitcoin and BTC share price in the last weeks, BTC should move higher from the current point.
From a short term perspective prices between 1.20 and 1.50 CAD $ look realistic to me.
Indicators MACD and StochRSI are also well-prepared for a reversal and would support the creation of a new upward channel, based on the current price level.
Trade closed: target reached