BTC looking to break out of it's consolidation pattern

2 Jan 2018

BTC needs to stay supportive on top of the major pink trend line to continue its parabolic expansion onwards in a new trend beyond the channel it's held through 2017. Currently it's held a perfect 61.8% retracement of it's last impulse wave. Currently forming a triangle consolidation pattern containing a W double bottom. Most signals look bullish. Showing oversold conditions and the 1 Day Stochastic RSI is turning up showing an upwards momentum. Targets marked in red but could easily get impulsive and push for the higher fib extensions. The FOMO is real!