BITCOIN On the way to the next Resistance zone by ThinkingAntsOk
Main items we can see on the chart:
a) The price has broken the correction above the descending channel (yellow lines)
b) This motive wave was the confirmation for the bullish movement and if you are a swing trader you probably open positions after the breakout of the purple line around 10.000
c) The target we expect for this movement is the resistance level at 13.000
d) However our view over bitcoin still bullish and if we have to project a target for the breakout of the yellow channel it will be 17.000 at least (First target of the Fibonacci Extension)
a) The price has broken the correction above the descending channel (yellow lines)
b) This motive wave was the confirmation for the bullish movement and if you are a swing trader you probably open positions after the breakout of the purple line around 10.000
c) The target we expect for this movement is the resistance level at 13.000
d) However our view over bitcoin still bullish and if we have to project a target for the breakout of the yellow channel it will be 17.000 at least (First target of the Fibonacci Extension)