The bitcoin price is likely to continue the positive trend of growth.
The February monthly candle ended in the bull zone and has a long tail. Bulls did not ignore this positive signal and from the first days of March drove the price up.
In addition to the technical factors added and fundamental. So, last week there were two positive news on bitcoin: Germany recognized it as a means of payment and exempted it from taxes, and bitcoin startup Circle acquired the Poloniex exchange-one of the largest cryptocurrency platforms to date. The market has received these news very positively.
The daily chart shows the development of the third wave. The downward trend line has been broken, the way up is almost open.
Here clearly visible figure"an upside-down head and shoulders." The level of the "neck" is around $11 700-11 800. When it is broken through and fixed above $12 000, the target of this figure will be the area of $17 000. The height from the" head "to the" neck " line is about $5000, this value should take the price when implementing this figure.