BTCUSD Still making a play for 11.8k

6 de mai. de 2018

BTC has broken through some resistances after making what seems to be a double bottom A & E pattern. Price has dropped to the bottom boundary of a channel which also intersects with a horizontal which was previous resistance and should now act as support. Next major resistance is around 11.8k. After that there should be a decent correction resetting some oscillators on higher TFs. That level would also become the neckline of the double bottom A&E. A 30-50% retrace would be expected there to reload and push through if the bulls were so inclined.