Will BTC reach 14k till the end of this year?
Sorry, mates, that we are didn't update our ideas, because we took some time to take a look at the market moves.
After downward breakout from triangle BTC reaccumulated and started a new wave up.
According to Wave theory triangle usually forming before the last wave.
So BTC made a great retracement and gave good buy opportunity near 61.8 fib level.
After that it shows big upward move and break descending trendline that confirmed the end of correction and started a new cycle.
In mid term we can expect continue of upward move.
Till the end of this year price can reach 14-16k.
Local situation on 4h will turn bullish soon.
BTC price is forming falling wedge in the end of the correction, so it can drop to 8400-8500 again to form bullish convergence and then breakout to the upside.
Confirmation for that wedge is 9150$ pivot.
After downward breakout from triangle BTC reaccumulated and started a new wave up.
According to Wave theory triangle usually forming before the last wave.
So BTC made a great retracement and gave good buy opportunity near 61.8 fib level.
After that it shows big upward move and break descending trendline that confirmed the end of correction and started a new cycle.
In mid term we can expect continue of upward move.
Till the end of this year price can reach 14-16k.
Local situation on 4h will turn bullish soon.
BTC price is forming falling wedge in the end of the correction, so it can drop to 8400-8500 again to form bullish convergence and then breakout to the upside.
Confirmation for that wedge is 9150$ pivot.