Bitcoin insane $105,000 target still on track but first a Wedge
When you use longer time frames, more patience is required for the play.
We've seen since Early 2022, the price started forming a Rounding Bottom.
It completed on 7 March 2024. Then was the consolidation period where traders are freaking out and calling it the next Crypto winter.
But in the bigger scheme of things it's just where demand and supply is settling for the next big move.
Follow on and we have a large falling wedge in play for Bitcoin. And once it breaks out, the target of $105,000 is easily on the cards.
Trading CFDs is not suitable as the daily interest charges on this kind of trade, will eat away at the portfolio.
So, I would only raw dog and buy more Bitcoin once the break out above the Wedge.
Will update as goes.
We've seen since Early 2022, the price started forming a Rounding Bottom.
It completed on 7 March 2024. Then was the consolidation period where traders are freaking out and calling it the next Crypto winter.
But in the bigger scheme of things it's just where demand and supply is settling for the next big move.
Follow on and we have a large falling wedge in play for Bitcoin. And once it breaks out, the target of $105,000 is easily on the cards.
Trading CFDs is not suitable as the daily interest charges on this kind of trade, will eat away at the portfolio.
So, I would only raw dog and buy more Bitcoin once the break out above the Wedge.
Will update as goes.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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.