Right now, Bitcoin is getting squeezed into this Descending Triangle Pattern. Since this pattern can be seen as a continuation pattern, chances are that we see another leg up as the next move.
Typical for such a pattern is that the length of the first wave is often almost as long as the length of the break out wave. Thus, the target lies somewhere around 14.4k (1.0 level of the fib extansion) and close to 15k.
As a round up, we have seen a nice bounce from the support on the RSI lately.
And for those of you who are following my ideas, you know that I like to underlie my TA ideas with supportive fundamental/sentiment factors. And as of right now, one could almost get lost in reasons for another bullish BTC move!
Currently we are seeing :
* a developing global currency crisis
* an inverted yield curve which is screaming for a recession
* a trade war between the two biggest economies of our beautiful planet
* immense institutional interest in crypto currencies (like BAKKT, which is about to go live "very soon")
* a tanking stock market
* etc.
Since BTC got widely accepted as digital gold I´m absolutely bullish on it. Micro and macro-trend wise.
But, as always, this is no financial advice! Take responsibility, trade on your own conclusions and never risk more than you can afford to lose.
Stay safe! :)