Prediction based on current pattern -- ascending triangle
I think the BTC price will rise according to an ascending triangle, and the vertex of this trip is 7800. This may be a coincidence because this price is a strong pressure line.
Some predictions of the future trend:
Some previous details I can refer to:
The time length of the bottoming process in the beginning of April is 13 days:
The supporting line (the extension line of lowest points in 6th Feb. and in the beginning of April) held up the plung last week successfully, this is a strong supporting line.
A support line or a pressure line will always works three times.
In the 6th day of every month this year, the price was at the top or the bottom.
Based on these information, I think the waterfall will come in 3th June, and the plung will be stopped by the suport line again (The time from 26th May to 6th June will be thought of a bottoming process).
Then, the price will bounce, the goal will be 8800 usdt, the time I guess is 15th June.
Then, the price will drop to the supporting line I referred to again, I think the supporting line will not work this time.
Finally, the price will go to somewhere lower than 6000 usdt in the summer holiday.
Anyway, I prefer to pay more attention to the next few days' trend because the market is so capricious. Only if the first step is proved correct can I go on the rest prediction. I am ready t modify my analysis anytime if I am proved wrong.
So, let's see the first part: the ascending triangle (29th May to 3th June).
Some predictions of the future trend:
Some previous details I can refer to:
The time length of the bottoming process in the beginning of April is 13 days:
The supporting line (the extension line of lowest points in 6th Feb. and in the beginning of April) held up the plung last week successfully, this is a strong supporting line.
A support line or a pressure line will always works three times.
In the 6th day of every month this year, the price was at the top or the bottom.
Based on these information, I think the waterfall will come in 3th June, and the plung will be stopped by the suport line again (The time from 26th May to 6th June will be thought of a bottoming process).
Then, the price will bounce, the goal will be 8800 usdt, the time I guess is 15th June.
Then, the price will drop to the supporting line I referred to again, I think the supporting line will not work this time.
Finally, the price will go to somewhere lower than 6000 usdt in the summer holiday.
Anyway, I prefer to pay more attention to the next few days' trend because the market is so capricious. Only if the first step is proved correct can I go on the rest prediction. I am ready t modify my analysis anytime if I am proved wrong.
So, let's see the first part: the ascending triangle (29th May to 3th June).