There are two possible scenarios.
1) It still hasn't hit the SOS Phase D, which means BCT is headed to $48k. This is supported by the bullish trend line that it has not used as support yet. That means there is potential to rise.
2) Phase D and E are both finished, this is supported by the recent dump last night.
I think the bullish scenario 1 is way more likely to 48k+.
The second one needs more confirmation and there is an impulse trend change that goes above the ascending triangle top line... since this hasn't happened yet, that means this pattern is still on going to the spring phase. Weekly supports this.
But no pattern is ever guaranteed.
1) It still hasn't hit the SOS Phase D, which means BCT is headed to $48k. This is supported by the bullish trend line that it has not used as support yet. That means there is potential to rise.
2) Phase D and E are both finished, this is supported by the recent dump last night.
I think the bullish scenario 1 is way more likely to 48k+.
The second one needs more confirmation and there is an impulse trend change that goes above the ascending triangle top line... since this hasn't happened yet, that means this pattern is still on going to the spring phase. Weekly supports this.
But no pattern is ever guaranteed.
Commentaire:
BTC * not BCT.
And SOS and Phases are all about the Wyckoff distribution. Look up the schematic.