Hello Guys,
BTC just bounced right off the 20 week MA, this is what I've been waiting for. The correction I wrote about in my last post is most likely over. Time for a big break of this triangle pattern. The fact that the volume is declining is also suggesting a (very) big move is coming soon.
BTC NEVER broke the 20 week MA in a bull market, so down from these prices seems very unlikely to me. The pattern that I see is a massive bull flagg, and when this breaks up, we are in for 22K soon (2 months from now).
What do you guys think?
Trade safe!
BTC just bounced right off the 20 week MA, this is what I've been waiting for. The correction I wrote about in my last post is most likely over. Time for a big break of this triangle pattern. The fact that the volume is declining is also suggesting a (very) big move is coming soon.
BTC NEVER broke the 20 week MA in a bull market, so down from these prices seems very unlikely to me. The pattern that I see is a massive bull flagg, and when this breaks up, we are in for 22K soon (2 months from now).
What do you guys think?
Trade safe!
Note
Well I was wrong about the big move, I thought it would be a pump, because everybody was expecting a dump. This time the herd was right. My bullisch scenario however isn’t off the table. The chart has formed a text book bull flagg. The RSI traded in a falling wedge, the fake-out below the wedge that we got with this big dump is actually very common.
I would like to see BTC make a weekly close with the body above the 21 weekly MA, because otherwise I am really going to doubt that we are in a bull market.
For now, hang tight, the chart will provide us the answers in about a week from now.
Note
I found a fractal of Juli 2013! Watch this:So we could be in for a month or two below the 21 Week MA but then continue this bull trend
Note
I explored the fractal even more, even the weekly RSI is EXACTLY the same, at 47. This convinces me even more that bitcoin is in for a bounce up.Note
Fractal still in play, RSI back in the wedge. Lets see if price pumps within the next 2 days.
Note
Break out of the Triangle happening right now. Target 9300
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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.