Bitcoin: First target at $10,480

2018년 5월 4일

The correction we've been waiting for has been delayed and we've seen a breakout from the triangle.
Bitcoin was consolidating within the triangle for quite a long time, accumulating sufficient impulse to reach higher levels before the correction happens.

Short-term outlook:
The triangle breakout pattern suggests us the first target to be at $10,480.

Mid-term outlook:
I still believe, there is a need to refuel to break $11,700 level. Also, many professional traders are waiting for a healthy correction to see if the cryptomarket is in strong hands now that won't panic sell everything with a first sign of significant correction.
Explanation:
If for some reason $11,700 is not broken and the bulls fail to pass it once again and the correction starts near that level, we'll see a new dip below 6K.

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