I think we're still in the middle of a retracement pattern on Bitcoin. Zooming in on the 1hr we can see what is most likely another ascending triangle pattern. These are typically continuations and therefore expecta break to the upside. A measured objective target of the previous move would take us to the top of the red trendline and would touch the fib 61.8% retracement level of the previous drop on 24 Feb. Fib 61.8's and ascending/descending triangles are becoming a bit of a favourite for bitcoin of late!
I can see price getting as high as 4.1k, hitting the 200 Weekly EMA which seems to be our resistance, the expect another move back down to the 200 Weekly MA.
I can see price getting as high as 4.1k, hitting the 200 Weekly EMA which seems to be our resistance, the expect another move back down to the 200 Weekly MA.