I promised you a bullish chart and possibility!
Assume our 15min wedge breaks bullish and retests the downwards lower high trend line, this could be a good setup for an inverse H&S should price bounce off our black marked support.
Looking at the target for this H&S would bring us up into the ~$6900 which if organic (ie not caused by manipulation....cough cough) could give rise to the short squeeze which has been memed to death.
If that DOES happen, and its a big "IF", then we would have broken out and officially left a higher low behind us, implying trend reversal in the long term timeframe...this would be our catalyst to the next bull run!
Assume our 15min wedge breaks bullish and retests the downwards lower high trend line, this could be a good setup for an inverse H&S should price bounce off our black marked support.
Looking at the target for this H&S would bring us up into the ~$6900 which if organic (ie not caused by manipulation....cough cough) could give rise to the short squeeze which has been memed to death.
If that DOES happen, and its a big "IF", then we would have broken out and officially left a higher low behind us, implying trend reversal in the long term timeframe...this would be our catalyst to the next bull run!
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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.
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.