My idea of BTC-USD is that it is coiling like a spring ready to start a new bullish phase. After the sharp rise, began with the candle on April 2 and ended on June 26, the currency pair moved in prolonged triangular congestion.
In the sessions of 25 and 26 October, there was a strong rebound, but immediately afterwards the congestion phase restarted again, with the price that first "walked" on the resistance trendline, and then returned within the triangle.
Now, a new bullish trend for BTC-USD may come soon, with the price that from end October has practically retraced 78.6% of Fibonacci and is back in the POC area (Volume Profile).
My personal targets are in the area $ 9,320/9,420, first, and then, in the area $ 10,540/10,640.
In the sessions of 25 and 26 October, there was a strong rebound, but immediately afterwards the congestion phase restarted again, with the price that first "walked" on the resistance trendline, and then returned within the triangle.
Now, a new bullish trend for BTC-USD may come soon, with the price that from end October has practically retraced 78.6% of Fibonacci and is back in the POC area (Volume Profile).
My personal targets are in the area $ 9,320/9,420, first, and then, in the area $ 10,540/10,640.
Comment:
Is the spring ready to push the BTC to $ 10,000?