For about 2 days now, BTC has basically only been going up. But after each large push in price there is a consolidation that forms bull flags on most occasions.
After a move from $12500 to $12900, BTC is forming a sort of bull flag or accumulation pattern. If this is true we may see higher prices coming shortly.
I still have targets at $13450-13600 as that is where the 0.618 Fibonacci level is ($13550), from the 2017 high ($19900) to the low ($3200).
There is still obviously a chance BTC will go down, so don't expect it to only go up.
If there is a 2H close below $12790 then ultimately I would target a price $12600-12400.
The overall trend is still to the upside, don't forget that until there are obvious reversal signs.
After a move from $12500 to $12900, BTC is forming a sort of bull flag or accumulation pattern. If this is true we may see higher prices coming shortly.
I still have targets at $13450-13600 as that is where the 0.618 Fibonacci level is ($13550), from the 2017 high ($19900) to the low ($3200).
There is still obviously a chance BTC will go down, so don't expect it to only go up.
If there is a 2H close below $12790 then ultimately I would target a price $12600-12400.
The overall trend is still to the upside, don't forget that until there are obvious reversal signs.