See www.futuresmag.com for reference. Buy the dip.
Following principles presented by TradeDevil, common targets are -0.236, -0.618, -1, -1.618 for those who shorted above 6k
Just looks like everything lines up perfectly. A rejection off of 7200 would be very bullish and would confirm the breakout of the long-term downtrend since December.
Targeting a buy around 0.618 level ($195 - $199) with a sell target of around $250. I'm a pretty rookie trader, so don't take this too seriously, but Elliot wave rules don't appear to be violated.
Look for BTC to break out of wedge around the end of the month
Current paths I see for BTC (constructive criticism appreciated, I'm fairly new to trading) Continue setting higher highs + lows to break out of wedge (green path) Consolidate within wedge to break out either long or short (yellow path) Form Head and Shoulders to short (red path)
Bullish MACD cross anticipated within the next week in addition to a fairly low RSI . BTC could fall to lower supports if red uptrend line is broken. I'm a fairly new trader so take this with a grain of salt.