Long

BULLISH Bitcoin Breakout (Total marketcap triangle breakout)

Updated

Although i have been treating this move up as a correction, as it approaches the final A of a double zig zig, I am considering the bullish alternative due to the total market cap breaking out of the longterm triangle and currently retesting the top as support. I'll add a pic at the bottom of total market cap. If it is going to breakout we should know in the next 12 hours. Until then I'm just holding my scalp long and will enter more longs on a breakout with a target of >5k.

Pivot for correction vs impulse is 4140.

Note

Yellow topline on total market cap is the top of triangle. resistance above at 1:1 extension (tested once). also currently a wedge but with the breakout and successful retest of support could be considered marginally bullish. not looking for additional entries until confirmation of either direction comes.

Note

1:1 Marketcap resistance is 140 billion.

Note

Target achieved in epic fashion. More updates to come... been a busy week. nest target >6k. BULL RUN IS HERE

Note

I don't expect a dip under 4800 before the next impulse. Hitting 5k on our first wave up changes things a bit. will post full analysis later tonight hopefully.

stephencarroll3

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