Bitcoin just took off after 8314 consolidation zone! We have three overviews.
1- Monthly resistance (9784) will become new support, consolidate for a while and shoot up to our next target 11k, 11133 to be exact.
2- Retrace to 4hr fib 38.20% level (9244), 2nd leg and head for the target 11133.
3- Retrace back to Daily 38.20% fib (8435), which was also previous monthly R/S, and a major monthly trend line(Support) crosses through.
Bitcoin is heading for the starts but needs to retrace in order to keep it making higher highs! The question is how much will it retrace?
1- Monthly resistance (9784) will become new support, consolidate for a while and shoot up to our next target 11k, 11133 to be exact.
2- Retrace to 4hr fib 38.20% level (9244), 2nd leg and head for the target 11133.
3- Retrace back to Daily 38.20% fib (8435), which was also previous monthly R/S, and a major monthly trend line(Support) crosses through.
Bitcoin is heading for the starts but needs to retrace in order to keep it making higher highs! The question is how much will it retrace?
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