BITCOIN CONSOLIDATION
Just an update of my main bitcoin scenario, been insisting since we broke down the triangle that this was not a distributive pattern at all, but a reacumulative one, with a big stop hunt below 9.4k area, and It looks like that scenario is getting more and more real
so just to point some key areas, we are currently consolidating in the main S/R of the triangle (grey box), if price is capable of breaking above this area and holding at any retest, that would mean for me that the correction of the entire trend since november 2018 is more than over, and that We will be heading for another bullrun, with current objetives above the ATH.
We could even go lower, to the high range area (thick black line and blue box), a key area that should hold, and that would give a nice zone for longs, in 8800$ area. Thats a key point and area that must hold, if price is not capable of holding and breaks down to the range that would be a pretty nasty scenario.
But for now, bitcoin is looking stronger than ever,lest see how it plays in the current weeks.
so just to point some key areas, we are currently consolidating in the main S/R of the triangle (grey box), if price is capable of breaking above this area and holding at any retest, that would mean for me that the correction of the entire trend since november 2018 is more than over, and that We will be heading for another bullrun, with current objetives above the ATH.
We could even go lower, to the high range area (thick black line and blue box), a key area that should hold, and that would give a nice zone for longs, in 8800$ area. Thats a key point and area that must hold, if price is not capable of holding and breaks down to the range that would be a pretty nasty scenario.
But for now, bitcoin is looking stronger than ever,lest see how it plays in the current weeks.
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