Bitcoin's monthly chart is looking more and more like a macro Bull-Flag which interestingly puts price to around $50k, the same as the Fibonacci Golden Pocket target.
I was waiting to see if we'd see the Bull Flag play our, or a shallow Head and Shoulders / Triple Top pattern. Hard to say, but overall it feels Bullish.
BTC has gone up 15% in the last 7 days, so a near term pullback and profit taking day is due for Bitcoin on the daily chart, but I expect a hard bounce off it's rising 21 / 50 day EMA's and will be looking for a confirmed break AND close above
31K-$32k to confirm the rally is real.
Otherwise, if BTC can't hold the $30k level here, it's likely going lower to retest the prior $25.3k level that's been the lower edge of the sideways channel.
And let's not forget..
There's still a CME gap unfilled around $20k.
That would be like a Black Friday sale for Bitcoin and a chance to load up.
What do you think traders?
I was waiting to see if we'd see the Bull Flag play our, or a shallow Head and Shoulders / Triple Top pattern. Hard to say, but overall it feels Bullish.
BTC has gone up 15% in the last 7 days, so a near term pullback and profit taking day is due for Bitcoin on the daily chart, but I expect a hard bounce off it's rising 21 / 50 day EMA's and will be looking for a confirmed break AND close above
31K-$32k to confirm the rally is real.Otherwise, if BTC can't hold the $30k level here, it's likely going lower to retest the prior $25.3k level that's been the lower edge of the sideways channel.
And let's not forget..
There's still a CME gap unfilled around $20k.
That would be like a Black Friday sale for Bitcoin and a chance to load up.
What do you think traders?
25-year investor & trader, bought 1st BTC at $20
More information:
Moonstream Crypto: moonstream.io
M3 Active Trader: Moonstream.io/M3
Trading Signals: CryptoMastery.org/pro
Work With Me 1:1
moonstreamcoaching.com
More information:
Moonstream Crypto: moonstream.io
M3 Active Trader: Moonstream.io/M3
Trading Signals: CryptoMastery.org/pro
Work With Me 1:1
moonstreamcoaching.com
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.
25-year investor & trader, bought 1st BTC at $20
More information:
Moonstream Crypto: moonstream.io
M3 Active Trader: Moonstream.io/M3
Trading Signals: CryptoMastery.org/pro
Work With Me 1:1
moonstreamcoaching.com
More information:
Moonstream Crypto: moonstream.io
M3 Active Trader: Moonstream.io/M3
Trading Signals: CryptoMastery.org/pro
Work With Me 1:1
moonstreamcoaching.com
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.