Bitcoin Price Prospect: 26.03.2018
Even though we've expected the reverse head&shoulders pattern since last week, current price broke this pattern shape. Also, it's on the way of the worst case that I mentioned in the last post. However, please keep in mind that there is a strong support line around $8400. Now, we can predict the future movement of Bitcoin price with two cases.
To say the conclusion first, both of the pattern are expected to show the multiple bottoms pattern. And this three bottoms pattern is the one in the image above. As I predicted, Bitcoin price can reach the dark blue trend line below the orange support line, so that it can start the ascending rally.
The second case is the double bottoms pattern. Bitcoin price might not be possible to pass the support line downward, so it could make another bottom by starting the rally right there. To draw a bull-run, Bitcoin price must collect more energy to rise up.
Just in case, if it breaks through the trend line downward, then the Big Boys give us one more opportunity to hold more position :)
For future viewers: price of bitcoin at the moment of posting is 8408.00USD
Thanks for letting me know :)
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