After the sell-off in Bitcoin (vs. USD) the previous weeks, the pair has reached the measured trend-extension target of USD 5’900. Meanwhile, it may found some bottom and formed a promising reversal pattern in form of a head-shoulder formation. Given the price break-out in the neckzone (USD 9’000), I expect a re-test of the USD 9’000 levels and rebound to USD 11’800 until end of next week (23rd Feb 2018).

Conclusion: Bullish reversal with 30% upside.



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