has bounced of 0.618 fib level and currently its showing signs of consolidation at this level, which is a positive sign. The price is moving into a wedge
and can breakout. If it bounces of this level and breaks the trend line
it can touch the previous high of 17000.00 and go beyond. However, you should enter the trade with caution and strict stop loss. BTC
is currently extremely susceptible to speculation and news emanating from key figures/governments across the world.
Entry point - Between 12500-13000
Profit target 1 - 17000.00
Profit target 2 - 19500.00
Stop loss - 9300.00
on multiple occasions has tried to break its trend line
. Currently its attempting to break it again. If successful, it would possibly indicate an uptrend momentum.
is also close to a cross over.
However, in the event of BTC
breaking fib level of 0.618 it is going to go down quickly to 8000.00 and possibly to 5500.00