BTC formed an inverted Head & Shoulders pattern which is a chart pattern indicating a reversal from the low. See blue text on chart to learn more of this common TA pattern and its importance as to where BTC price is likely going next. Currently, BTC is at a signer significant decision point and will either break out higher or move lower to again re-test the low at 5873 forming a double bottom at which time it will again continue its move higher. The inverted H & S pattern is confirmed by EW suggesting we are also likely to move to the 11,100 FIB level over the short term. Longer term as my prior chart indicated still remains bullish with 14,000 up next followed by 17,000. Look for significant price increases as we confirm over the next several hours that 10,000 level had been passed and is now support reversing from resistance when crossed. 10,000 is a key psychological level and also a news or attention grabbing price level for BTC. Media will report it as a return to a bull market and investors who have been on the sidelines in USDT or cash will move back in at this level as will many new buyers is my interpretation of this important levels impact on price.
Unless some very serious news should develop which could reverse this bullish trend I expect to see BTC to continue moving higher and to get a significant boost from crossing the 10,000 level pushing us higher quickly to the next (red numbers on chart) at least 11,100 FIB level and very likely quickly toward the 14,000 level. Also, if you are trading some of the other coins/tokens expect these to benefit also from the BTC 10,000+ price boosting impact. I see some good times ahead as I have been saying for the past week for those who are long BTC.
Remember to do something you enjoy today and spend time with those important to you. AND always keep those protective stops in place to protect gains and minimize losses. CHEERS TO MY FELLOW CRYPTO LOVERS!!!
Unless some very serious news should develop which could reverse this bullish trend I expect to see BTC to continue moving higher and to get a significant boost from crossing the 10,000 level pushing us higher quickly to the next (red numbers on chart) at least 11,100 FIB level and very likely quickly toward the 14,000 level. Also, if you are trading some of the other coins/tokens expect these to benefit also from the BTC 10,000+ price boosting impact. I see some good times ahead as I have been saying for the past week for those who are long BTC.
Remember to do something you enjoy today and spend time with those important to you. AND always keep those protective stops in place to protect gains and minimize losses. CHEERS TO MY FELLOW CRYPTO LOVERS!!!