We´ve seen bitcoin decouple from its expected further correction downwards as per the rectangle figure it currently "lives in".
An impressive back to EMA100 in the 4H range and a possible testing of the 31,000 resistance level created expectations.
A "less than perfect" triangle breakout occured, but instead of the full projection (31,618) it fell short of it and faced resistance at 30,738.
Price still remains above the EMA100 but my expectation is that it will correct towards the tip of the triangle, somewhere around 29,500 ish.
The full rectangle figure remains as a menace to a further correction, with technical target of 25,253.
Before that, bitcoin would have to loose the 27,994 low and that is a fact, also perhaps a hard bone.
Stay tuned for updates!
An impressive back to EMA100 in the 4H range and a possible testing of the 31,000 resistance level created expectations.
A "less than perfect" triangle breakout occured, but instead of the full projection (31,618) it fell short of it and faced resistance at 30,738.
Price still remains above the EMA100 but my expectation is that it will correct towards the tip of the triangle, somewhere around 29,500 ish.
The full rectangle figure remains as a menace to a further correction, with technical target of 25,253.
Before that, bitcoin would have to loose the 27,994 low and that is a fact, also perhaps a hard bone.
Stay tuned for updates!
