I think there is a formed trend continuation pattern at the Bitcoin chart. There is a triangle which i think is a pennant and some movements that i think head and shoulders continuation pattern. I made some calculations on patterns and first price target met with Bitcoins bottom line of big triangle and second target met with 6k bottom. It seems reasonable but I am still cautious. Publishing it for tracking its development.
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After the pullback first target reached
Trade closed: target reached:
I was expecting to test 6k but we bounced from the patterns 1:1 target, we can still drop but this ideas target reached i think.
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Note:If we are gonna take 10k as a flagpole start point then the target is 4800.
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Short term
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Dropped too quick i think. Not a good sign.
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At this point while i am looking at charts this pattern actually can be middle of the correction. As i said earlier at jun 15if this is the case then 4800 is target point
Trade active
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Of course first we should break down second target which is reached today.
Trade closed manually:
Noone cares but still we did not stay below second target so trade right now closed.
