Hi everyone, thanks for checking out our TA. Let's get into a potential accumulation zone forming for 
BTC.
In the day chart, which we love for charting long-term patterns, we've drawn a horizontal pennant flag tied to highest highs and the lowest lows in the downward trend channel. What we see is a clear horizontal pattern forming with the new low at $7,250.
The long-term resistance trendline of our accumulation zone ranges under the heavy resistance at $12k. But we can clearly see the lows getting higher and higher.
Now we're not eliminating our double bottom target yet, but ifBTCcontinues it's bullish trend and tests the upward resistance at $11K, we can pretty much kiss our double bottom target good-bye, and trade within the accumulation zone in preparation for an epic bull run towards $20K and beyond. Exciting times!
As always, be smart with your money. Topics discussed in this post are not financial advice. DYOR
We'll be posting episode 4 of our podcast on the state of the market tonight. Stay tuned!
BTC. In the day chart, which we love for charting long-term patterns, we've drawn a horizontal pennant flag tied to highest highs and the lowest lows in the downward trend channel. What we see is a clear horizontal pattern forming with the new low at $7,250.
The long-term resistance trendline of our accumulation zone ranges under the heavy resistance at $12k. But we can clearly see the lows getting higher and higher.
Now we're not eliminating our double bottom target yet, but if
BTCcontinues it's bullish trend and tests the upward resistance at $11K, we can pretty much kiss our double bottom target good-bye, and trade within the accumulation zone in preparation for an epic bull run towards $20K and beyond. Exciting times!As always, be smart with your money. Topics discussed in this post are not financial advice. DYOR
We'll be posting episode 4 of our podcast on the state of the market tonight. Stay tuned!
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.
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.