Bitcoin and the CrytoMarkets. Pivot Points and Market Direction
After weeks of continuous indecision and rolling between bullish and bearish perspectives over and over, the time has come for a decision point to be made within the crypto markets. The direction the market takes this week will influence the current year.
I am still very undecided over where this is heading.\u2028\u2028The chart is self-explanatory wether the current downtrend will be over or not considering the breakout of the pivot line (orange). If the pivot line is not broken, I expect a downfall of the market to levels close to 4300 USD and the creation of a similar Harmonic Pattern as the one shown in the graph. If it does manage to break up, I expect price to reach the first target around 13900 USD. Second target around 16500.
I am still very undecided over where this is heading.\u2028\u2028The chart is self-explanatory wether the current downtrend will be over or not considering the breakout of the pivot line (orange). If the pivot line is not broken, I expect a downfall of the market to levels close to 4300 USD and the creation of a similar Harmonic Pattern as the one shown in the graph. If it does manage to break up, I expect price to reach the first target around 13900 USD. Second target around 16500.
