"short and mid Targets (resistances) T1 - 8.5k T2 - 10k T3 - 11k T4 - 12.7k "
Ok rick, but what happened? BTC made a good reversal from that point, its already 80% up from that level and hit target 1,2,3! now we are waiting to another decision, we are trying to break BIG downtrend line (red) its a fucking important zone, we still in a rising wedge and its a bear formation! so we are charting probablies scenarios.
1- Breakdown rising wedge and back to 8.5k level (first target)
2- Breakup RED line and show us a strong move to break this rising wedge ( its hard to breakup rising wedge but can happen)
3- BTC ignore this rising wedge formation and go sideways consolidating around 10k-11k
4- fail to breakup RED line form a double or triple top then fall to 8.5k area
So if u are following me and my advice and u bought BTC arround 6.5k area u are looking to lock some profit in this run, I recommend u wait for next BTC decision then lock some profits to buy cheaper. 11.3k its a good area to lock profit if we don't breakup
if u are looking to buy BTC I recommend to wait next move because its most easy to breakdown this rising wedge and back to 8.5k area (old resistance , new support)
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.