The price is moving in a downward channel, a new increase to 10470 has updated the upper limit. Now many are interested in rolling back to zone 7850 - 8650 (since there was a past consolidation, this zone will be liquid and there will definitely be volumes). If you roll back to the zone of the previous consolidation (7850-8650), then there will be a resistance retest of 9700 and most likely accompanied by an impulse of 500-1000 points. This explains my bullish pattern, which I will describe below. Also, buyers will meet resistance as the upper limit of the downward channel at the level of 9700.
But it is also possible to break through and consolidate above 9400, after which there will probably be growth to 9700 (possibly growth without fixing above the level and subsequent rollback).
Pattern:
After growth to 10470 there is a rollback, which we now see, after which, in my bullish pattern, there will be an increase of at least 50% of the previous one. A toast from around 8300 will rise to 9700, as last growth beat from 7440 to 10480 according to Bitfinex.
Indicator:
According to the CCI, the double top pattern is visible (but the most important thing is that it broke through level 200, moreover, two times). This may indicate a subsequent rollback.
Conclusions:
Based on my analysis, I can see two main movements. Growth to 9400 and fixing above the level with subsequent growth to 9700 (possibly false breakdown and subsequent rollback). Or a decrease in value to the level of 8300 for closing the GAP with a further set of positions and an increase to 9700.
But it is also possible to break through and consolidate above 9400, after which there will probably be growth to 9700 (possibly growth without fixing above the level and subsequent rollback).
Pattern:
After growth to 10470 there is a rollback, which we now see, after which, in my bullish pattern, there will be an increase of at least 50% of the previous one. A toast from around 8300 will rise to 9700, as last growth beat from 7440 to 10480 according to Bitfinex.
According to the CCI, the double top pattern is visible (but the most important thing is that it broke through level 200, moreover, two times). This may indicate a subsequent rollback.
Conclusions:
Based on my analysis, I can see two main movements. Growth to 9400 and fixing above the level with subsequent growth to 9700 (possibly false breakdown and subsequent rollback). Or a decrease in value to the level of 8300 for closing the GAP with a further set of positions and an increase to 9700.
Operación cerrada: objetivo alcanzado
