Remember this projection!? Consolidation is over-it's an uptrend
BTCUSD technical analysis as of April 13, 2018:
As it is shown on the chart, the price of bitcoin is currently trading slightly below 8K USD and approaching a strong level of support at ~8.2K. As according to the assumption made earlier on March 25, 2018 - the price of bitcoin was expected to be traded in sideways consolidating between 8K and 9K - this projection was slightly above the actual range that occurred between March 26 and April 12, 2018 (in the last few days, bitcoin was traded in a range between 6.5K and 8K). As it was expected, a sharp move in the direction of the breakout occurred on April 12, 2018 surging from ~7K to ~8K within an hour. This ascending movement signals that consolidation is over and an uptrend has begun. It is assumed that after breaking ~8.2K level of support, the price of bitcoin will rise to ~12K in the following days with further upsurge to ~14K and ~17K in the following few weeks...
As it is shown on the chart, the price of bitcoin is currently trading slightly below 8K USD and approaching a strong level of support at ~8.2K. As according to the assumption made earlier on March 25, 2018 - the price of bitcoin was expected to be traded in sideways consolidating between 8K and 9K - this projection was slightly above the actual range that occurred between March 26 and April 12, 2018 (in the last few days, bitcoin was traded in a range between 6.5K and 8K). As it was expected, a sharp move in the direction of the breakout occurred on April 12, 2018 surging from ~7K to ~8K within an hour. This ascending movement signals that consolidation is over and an uptrend has begun. It is assumed that after breaking ~8.2K level of support, the price of bitcoin will rise to ~12K in the following days with further upsurge to ~14K and ~17K in the following few weeks...
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