Instead of completing its immediate short term target, marked with the upper dotted green line, btc attained its next short term target, the lower dotted green line.
The price did not stay outside of the green triangle. Therefore the lower border of this triangle has once again proven to be an intact support.
The green trend sections are so small now that they have become useless for representing their time frame.
All that can be said is that the price should reverse upwards until tomorrow. No new short term target is available currently.
The mid-term target, represented by the dotted orange line, has not changed. It is expected to be the level which the price will attain after breaking out from the green and blue triangle.
Then the price will reverse downwards, since this target will complete an orange trend section.
Interpretation:
After breaking out of its triangles upwards, the price will reverse downwards and complete a pink trend section, marked with the dotted pink line.
Overview price targets:
- green : not available
- orange : 7200
- blue : same level as pink
- pink : 5000
