Following the price closely for the last several weeks, I have no reason to do in-depth technical analysis as it seems basic TA and psychological barriers are holding the strongest currently (as seen in my past charts) - I feel that everyone is over-analyzing the charts and not looking at the big picture here.
Here we have a simple triangle that we are staying within and will most likely breakout of within the next 24 hours. In my opinion, we will reach new highs and most likely break $12k by the end of the week. If, however, we breakout downward, we will most likely fall back to the $11.1k retracement level and bounce back upward. We still have close to a month left of 2017 and everyone is currently bullish which I think will continue to push the price higher for the rest of the year.
Here we have a simple triangle that we are staying within and will most likely breakout of within the next 24 hours. In my opinion, we will reach new highs and most likely break $12k by the end of the week. If, however, we breakout downward, we will most likely fall back to the $11.1k retracement level and bounce back upward. We still have close to a month left of 2017 and everyone is currently bullish which I think will continue to push the price higher for the rest of the year.
