In terms of a potential surprise explosion to the upside, there is also some justification for that. We may just now be breaking out of a cup and handle pattern, which could potentially (although unlikely) cause BTC to explode to 7822ish. Interestingly, if we use THAT as the top for this move, you can see that it raises the 61.8% retrace to just below the recent price action. Very interesting stuff. The indicators show sell signals galore, but this is also a technical possibility. Something to be aware of anyway.
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
Note
People this is the main analysis from today....
I only posted a bullish contrarian analysis to assess the upside potential, which I said was extremely unlikely. I'm still not bullish, and I'm still not buying right now. There's just way too much overhead resistance.
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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.