I believe Bitcoin will rise from 6000, though I have limited knowledge on Elliot's Wave Theory on market behavior I have set what I theorize is to occur. Price will retrace at this point as it forms an uptrend. This I believe is the point of reversal to the upside. Bitcoin retraced to the 300 Daily EMA which I believe is sufficient. The T.D.I Indicator shows Market Baseline is low under 50 level which would mean to me that prices are low enough for buying power. Also the T.D.I Volatility Band is just near 50 probably enough to double confirm M B L's condition I expressed. MBL though could present itself as resistance to my T D I's Relative Strength Index line and pressure prices (& RSI) lower which I consider much less likely to happen since I have explained concerning VBhi & MBL's condition.
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Trade fechado: objetivo atingido
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I do not master the skill of the Elliott Wave theory.
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Indicator Recommended: Traders Dynamic Index
MBL = Orange Line
High/Upper Volatility Band = Upper outer Navy Blue (Purplish) Line
RSI = Green line