The uptrend since July 19 is really strong. We didn't do a lower low yet, so everyone who buys since $28.8k keeps moving their stop loss higher and higher as we make new dips.
The last dips were around $43.8k so there would be large liquidity just below that.
We also have the bottom range high at $42.5k.
There are many people who missed this run, including large whales.
One scenario would be that we dump to between $42.5k-$43.8k, there:
That launches the price to
48K quickly which is not the last high but the previous high.
After that, we either just blast to $50k or complete this run forming a head and shoulders pattern. This run looks similar to the ATH run so the head and shoulders would look natural.
I'm an amateur, just speculating. Not financial advice.
The last dips were around $43.8k so there would be large liquidity just below that.
We also have the bottom range high at $42.5k.
There are many people who missed this run, including large whales.
One scenario would be that we dump to between $42.5k-$43.8k, there:
- Whales will fill their orders as stop losses hit
- People who missed the run also enter at this -15% discounted price
- The range high being rejected, giving more confidence and more people enter as they see this as confirmation
That launches the price to
48K quickly which is not the last high but the previous high. After that, we either just blast to $50k or complete this run forming a head and shoulders pattern. This run looks similar to the ATH run so the head and shoulders would look natural.
I'm an amateur, just speculating. Not financial advice.
Note
Hit the target!
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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.