I have moved this analysis to a new chart, seems it was registered under the XBT” charts.
So the failed (partially) as well, this shows the intention of the market was upwards. We can simply sate now, that the 3300/3200 is a level where buyers are stepping again, they like this level to buy it up. That 3320 (green zone on the right did it’s work again.
The previous high at 3990 has been broken and now it seems the 3420/40 has been broken as well. My best guess for now is, making a small . If that happens and it looks good, i think we can move to the 3600. This will be the key level for the pattern. If it goes like this, we should be able to see the 4000 this week.
To stay objective, there is another version and that is the triangle we can see on the left. If the bulls will fail around this level and start to drop again towards the lows, than we can forget about the W bottom pattern and have to assume the triangle is in play. With a triangle, it can still break both ways, but at this spot, a break is more likely.
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Chart of the last update.
Important chart as well: The one on the right, similar to the 3500/3600 zone
Don’t forget to read the previous analysis if you want to be up to date:
Published at Wed, 12 Dec 2018 11:45:08 +0000
