Dear fellow traders,
BTC broke out the old channel (red lines) end november. Will BTC get back in the channel?
- Strong bounce at 3k all the way up to 4200 - 4300. It was obvious btc couldn't break the major resistance (red line around 4400) so easily without a proper correction.
- As you can see on the chart BTC is now at the end of the C leg of a expanded flat correction.
- Wave 3 could bring us all the way up to 5600. Also the target of the bearish cypher pattern.
- If the target of 5600 is reached i think it will correct down to point B of the cypher pattern and also testing the lower line of the old channel.
- Wave 5 could bring us to 6k+.
Good luck trading!
BTC broke out the old channel (red lines) end november. Will BTC get back in the channel?
- Strong bounce at 3k all the way up to 4200 - 4300. It was obvious btc couldn't break the major resistance (red line around 4400) so easily without a proper correction.
- As you can see on the chart BTC is now at the end of the C leg of a expanded flat correction.
- Wave 3 could bring us all the way up to 5600. Also the target of the bearish cypher pattern.
- If the target of 5600 is reached i think it will correct down to point B of the cypher pattern and also testing the lower line of the old channel.
- Wave 5 could bring us to 6k+.
Good luck trading!