SHORT TERM
ANALYSIS
Important breakout of BITCOIN during the last hours.
Descending trendline (red lines) that brought the price from 5000$ to 3000$ has just been broken with high volumes.
Now an uptrend channel is forming (green) and these are my new targets:
EXPECTATIONS
I expect a consolidation in next hours, with 3800$ acting as support and 4100$ as resistence.
RSI is overbought at the moment, and this is another signal that could indicate a sideways movement.
MEDIUM TERM
ANALYSIS
Similar situation for daily chart: the breakout over 4000$ confirms a reversal signal that brings the price out of descending trendline. As you can see, the green arrow indicates a buy opportunity.
EXPECTATIONS
Medium term view is positive and it's possible to fix some price targets:
1st TARGET: 4100$
2nd TARGET: 4370$
3rd TARGET: 4660$
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