Bitcoin is on its way, But how far? ( Answer included )


Bitcoin is going up. For now, It seems promising. Just break the Fibonacci Line ( 11200 ) forming a gap.
The momentum also increasing, DMI is in good position.
MACD suggest a big uptrend movement. Also, It passed the great downtrend line ( Green Line ).

If it can reach ( I think it will ) 11800 level, We can expect more bold movement, Creating C&H or H&S pattern.

So, Are we going to the moon? Not so fast.

The upper limit of Regression trend line (Blue and Red zone) is formed at 11800 level, which is also happens to be a fibonacci level possibly indicating price reversal.
In addition, If we have outliers for this regression trend, The yellow and red line which also trend lines for outliers are formed 1200 and, 11800 level.
The RSI indicator is almost in overbought position as well.

The key point is 11800 ~ 12000. I will come back with new Idea when it reaches that level.

Don’t follow the bright light without any question, It will burn you up.

Always, take profit while it lasts.

Your dear friend, Bubble Pop.


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