Inverse Head and Shoulders formation appears to be pointing at a rally to $21,855. This will put us at a 45% rise since Sunday afternoon.
If this rally completes, we'll probably see a Bull Flag or Bull Pennant form for a short period of time, until we complete the weekend rally.
I expect the weekend rally will rise just as much as we have risen after the inverse H&S rally completed, which will put us at at target of $26,500, completing around Sunday early morning.
It's possible that we'll start to see a shift in the Bitcoin rallies towards Weekday rallies (Monday through Wednesday) leading Weekend rallies (Thursday through Sunday) due to new and more sophisticated investors entering into trades and the Bitcoin futures market.
Overall between the rallies of this week and weekend, I am predicting we'll be up 76% from the $15,000 mark we completed just yesterday.
Useful TA thanks. This is very optimistic but BTC is in mega-bull run now. Do you think that traders on Future contracts will try to short BTC during business days while LT holders and newcomers will make it rise during week ends ?
trader85737
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what do you think? :)
groovenergy
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I hope you're right!!! Following ;)
zippy1day
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You could have something there man already happened before but I think RS still forming imho