Is Bitcoin about to pull a DanV here?
We are currently sitting at monthly resistance @ $640. I am expecting another move up (squeezing premature shorters) for an optimal short entry at $655-680. Target $560-540, followed by:
a) retest of the upper zone [to $700-720] .
or
b) squeezing the longs (and inneficient miners) [to $470-420]
Long live DanV, master of descending red arrows!
a) retest of the upper zone [to $700-720] .
or
b) squeezing the longs (and inneficient miners) [to $470-420]
Long live DanV, master of descending red arrows!
Note
Similar analysis for OKCoin Quarterlies. Binary scenario, we could sideways here for a while then MOON, or we could break those supports and proceed with the long squeeze.Note
$626 held, still no signs of correction. This might run to $720Note
Fibo-extension targets: $680 (1.382) and $695 (1.618)Note
$720 hit, time to be very careful longing here, we could be near a significant correction ($600 possible)
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Disclaimer
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.