BITCOIN Broke bullish out of it's channel and reached a new ATH. However it might be forming a Head And Shoulders pattern which, if completed could send price back into the channel again. This could be a consolidating fase for Bitcoin, until it's ready to go again. I believe that the minimumtarget for the HAS-Pattern is around 53,000 Dollars, however panic-sale and stop-losses might be driving the price down to the bottom of the channel.
Remember that the Head and Shoulders pattern hasn't formed yet and might not complete. The market is very bullish and BITCOIN could potentially go on without a consolidation. I will be looking for at setback to get in at a cheaper price before new ATH's.
Remember that the Head and Shoulders pattern hasn't formed yet and might not complete. The market is very bullish and BITCOIN could potentially go on without a consolidation. I will be looking for at setback to get in at a cheaper price before new ATH's.