BTC may be showing a preference for August 20th 11k pricepoint
Updated
With this morning's rise, we saw validation of the blue arc representing pre-existing resistance as Bitcoin on the one minute chart briefly popped above it and converted it to support before being pulled back down in to that triangular zone of indecision. This motion may have solidified a new trend showing a flipping of the support and resistance represented by the white and purple arcs as Bitcoin begins its bull run. While it is possible that we will see a drop soon, I don't think it's happening. The bottom may not be in yet, but it isn't much lower than this. We'll probably see a drop over the next few hours as Bitcoin heads back down to the Ichimoku base and conversion lines for support. We've seen TD sequential nine counts on the daily. I don't think we're looking at a Bart head formation, friends. The tide could turn, of course, but I'm going long today once the stars finish lining up and staying long for days if not weeks. If you're trading right now on the hourly charts, you should probably short until the pullback ends and the long signals manifest.
*This is not financial advice, it is a personal diary meant to educate myself and brag to others with
*This is not financial advice, it is a personal diary meant to educate myself and brag to others with
Trade closed: target reached
As so often happens with price action analysis like this, the target was reached a million miles from the hypothesized time.
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