While most are bearish i remain bullish

Updated
Hello traders, it has been awhile since i have published a chart

but i could not resist holding back my opinion on what i foresee

in this market. With so many people still expecting 5k its almost

comical and reminds me of last year when we were trading below

4200 prior to the massive breakout that came upon breaking out

of the inverse head and shoulders we had formed at that time.

Illustrated in the chart above is what i am predicting for bitcoin

within the next month. As we can see for those that know and

understand patterns/formations you know that what we have

here is a typical setup for a market reversal.

KEY TAKEAWAYS
An inverse head and shoulders is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends

An inverse head and shoulders pattern, upon completion, signals a bull market

Investors typically enter into a long position when the price rises above the resistance of the neckline.


Comment
Yet again i make a call and the market follows my prediction. I am long from 8250 on cross leverage. Right now BTC is trading at 8460 a falling wedge has formed on the 4hr chart we have tapped upper trend-line resistance "8514" as i expected and have held above 8430. Yesterdays resistance"8430" is now acting as today's support. The next key level to get above is going to be today's high at 8514 if broken i am targeting 8570-8594. Let's take this level by level and not get to ahead of ourselves.
Falling wedge incoming SHORT liquidation run
Comment
BTC has hit resistance at 8514 and tested the resistance line of this falling wedge. It is likely the next 4hr candle will break BTC past its line of resistance. If broken expect the next resistance zone of 8570-8630.

Current positions

Swing account
Position - Long
Entry - 8250

Scalp account
Position- Long
Entry - 8370


snapshot
Comment
LTF market structure - 5min

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Beyond Technical AnalysisBitcoin (Cryptocurrency)BTCBTCUSDbybitChart PatternscryptoTrend Analysis

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