is right on target I believe today to break out of the long term Ending Diagonal
it has been trading inside of for the past weeks. Breaking out of this will be really solid confirmation of the bull trend establish lately and really alleviate fears of a second test of the low before we go into a full blown bullish pattern
. If we fail to break out here which seems unlikely expect BTC
to retest the low of 6,000 or possibly even move lower before resuming a bullish pattern
. We have been trading sideways here for a few days with the typical swings up and down to reach this key event.
I would hold long positions with stops to prevent any loss of profits since entry and to limit downside risk as always. I expect BTC
to continue in the current bullish
trading pattern and break out of the diagonal as we move much higher in 2018. In other trading I see most alts trading sideways and little overall bullish
movement. I expect as BTC
continues to mint more bullish
action as money moves back into the crypto's overall pushing the market cap upwards again. We should have a good 2018 and I expect this spring to see strong moves upward and starting in the not too long future.
Cheers - do at least one fun thing today!