BULL TREND: A Multi Time Frame Analysis.
Hello investors! The bulls are quite strong here, and they managed to keep the prices up over this weekend! I’ve been saying that BTC is more bullish than bearish for about a week, and now let’s see if it still bullish. If you missed my last analysis, the link to it is below, and follow me to keep in touch!
Ok, so, BTC didn’t triggered the H&S we talked about in my last analysis, and this bearish pattern got frustrated, which is good, and that’s why I always like to wait for the patterns to get triggered before I make any decision. And, during this weekend, BTC did absolutely nothing, trading sideways.
Now, it seems it’s triggering an inverted H&S pattern, which is very good, and since it’s a bull trend already, we can set a target around the black line at $ 9757 again. This pattern will be triggered if the price closes above the green line. In my view it can go even higher than the black line, though. Now, let’s see the daily chart as usual:
Here we see how intense the fight is. The price is struggling near a resistance, which is the lost green trendline, but has some supports too, like the blue line and the 21 ema. Again, in my view it’s still more bullish than bearish, even when we look at the low volume. Now, let’s study the weekly chart:
Yes, things seem to be pretty amazing from here. I’ve been warning about this macro movement BTC has been doing, and how important is to BTC to escape from this descending channel. Now the bulls are with the upper hand, and everything points for a breakout that could lead BTC to $ 14k again.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
Ok, so, BTC didn’t triggered the H&S we talked about in my last analysis, and this bearish pattern got frustrated, which is good, and that’s why I always like to wait for the patterns to get triggered before I make any decision. And, during this weekend, BTC did absolutely nothing, trading sideways.
Now, it seems it’s triggering an inverted H&S pattern, which is very good, and since it’s a bull trend already, we can set a target around the black line at $ 9757 again. This pattern will be triggered if the price closes above the green line. In my view it can go even higher than the black line, though. Now, let’s see the daily chart as usual:
Here we see how intense the fight is. The price is struggling near a resistance, which is the lost green trendline, but has some supports too, like the blue line and the 21 ema. Again, in my view it’s still more bullish than bearish, even when we look at the low volume. Now, let’s study the weekly chart:
Yes, things seem to be pretty amazing from here. I’ve been warning about this macro movement BTC has been doing, and how important is to BTC to escape from this descending channel. Now the bulls are with the upper hand, and everything points for a breakout that could lead BTC to $ 14k again.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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