BTC/USD forming massive bull flag?
Updated
Looking at the zoomed out weekly & daily charts. If BTC does break to the downside. It's quite possible that BTC is going to form a massive bull-flag. But support at $4700 region must confirm this first, creating a higher low. Is this perhaps the reason why BTC is heading towards the downside, before the next bull rally? Smart people will most probably sell high, but the same people will also buy as low as possible. TBH, I really wouldn't mind to accumulate more BTC at the $4700 region, before it goes to the moon( and beyond?). That's why I have reason to believe that even though BTC is going to dip to these regions.
Once the $4700 regions has confirmed support, creating a higher low. Then I will definitely long and buy more bitcoins at these prices! I reckon the next upcoming bull-rally will be at the golden retrace, $7500 region, but I rather see it getting rejected and go to the $4700 region. I believe this is a risk the bears & bulls should take and worth taking, considering life changing opportunities. I also believe this will be the last time BTC will reach these levels. If this massive bull flag is confirmed and this massive bull flag breaks out, then I predict that BTC will go towards $30.000 region before the end of year 2021.
Currently I have a BTC short position open since $10.343 price with 15x leverage. Will see how far it will dip or my s/l will get triggered at $10.377 an order limit is ready to catch the pump wave for just in case.
Once the $4700 regions has confirmed support, creating a higher low. Then I will definitely long and buy more bitcoins at these prices! I reckon the next upcoming bull-rally will be at the golden retrace, $7500 region, but I rather see it getting rejected and go to the $4700 region. I believe this is a risk the bears & bulls should take and worth taking, considering life changing opportunities. I also believe this will be the last time BTC will reach these levels. If this massive bull flag is confirmed and this massive bull flag breaks out, then I predict that BTC will go towards $30.000 region before the end of year 2021.
Currently I have a BTC short position open since $10.343 price with 15x leverage. Will see how far it will dip or my s/l will get triggered at $10.377 an order limit is ready to catch the pump wave for just in case.
Comment
Approaching target :)
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