Looking at a short time-frame, we can clearly see the prices consolidating.
If the price again tested the 55-EMA and successfully breached it and maintains the price above it, the price is expected to slowly go upwards to retest the $11.7k-$12k zone resistance.
Looking at a longer time-frame, assuming that the ABC correction count is correct, it is safe to assume that the price now is on an upward trend as shown below.
A major resistance is at $11.7k-$12k zone. If the next $11.7k-$12k zone resistance test successfully breached the resistance, then a slow creep to $15k zone is expected.
However, if the next resistance test fails to breach it, then an alternate path to $15k zone is expected.
Date: 13 March 2018 - Time: 22:00 (GMT+8)
Cryptocurrency exchange: Binance
Current BTC price (USDT): 9,155.00
24h high (USDT): 9,474.00
24h low (USDT): 8,780.00
Disclaimer
This is my personal view and I don't claim it to be a professional financial guide. Your decisions are only controlled by you and only you. Listen to what others say, but don’t believe everything that you hear. Research, analyze, and think. In the end, you can only thank yourself for believing in something that is true. Likewise, you can only blame yourself for believing in something that is false.
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