Bitcoin is now pushing its way through arc resistance in several timeframes. I think it is reasonable to assume that it will soon get through the arcs to close on the sunny side, giving us buy signals once again.
Here is a 4-hour chart:
As you can see, in this setup it was the top of the 4th square that knocked price for a loop several days ago. But the chart found support at the 3rd arc, retraced back to the 4th arc, faltered for a bit, but is now pushing through.
Of course, it is possible that the 2nd arc of the pair will knock it back down, but that seems a bit unlikely. Far more likely, imho, is that price will get through and target the 5th arc at ~ $1087.
It seems that the 2/19-2/21 timeframe will see price hit the 5th arc. What will likely happen then? Of course, I can’t say for sure. However, Chris Carolyn’s
Read more ... source: CryptoCoinsNews
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