BTC - Patience & Surveillance
Updated
I've cleaned up a bit the chart. Deleted some arrows trying to predict (LOL) the price when I pointed out where it might be the beginning of the spring on Phase C. Since the last test idea We've jumped almost 9k (around a 30% increase) with nice bullish candles. By that time BTC price was around 32k. Today We most of us enjoyed and saw a lot of green in our portfolios when BTC reached 41330$.
A few interesting points:
We can range a while between the red dashed lines, but let's not forget about GP and how it aligns with the support area 37189$
Patience & surveillance. Let the whales/institutions/smart money creates the movements. We also can follow, we just gotta do it in a smart way. It's nice to see how price action behaves and now comparing it with the past events, we might still have bullish moments.
A few interesting points:
- We can draw a bullish symmetrical triangle and The lower part of the triangle (support) comes from before (from our lowest in this dip 30k, our selling climax), as you can see, the price has touched this support ( 5 times ) then it broke it and now it's being support again, aligning with the triangle.
- Right now BTC it's fighting in an area that happened almost the exact date when AR (Accumulation area #1) was reached in January. So let's put it like this, on January 14 the BTC reached its AR, and today June 15 BTC is fighting there. Being this zone important because it was breached later on February 06 and 2 days later a new phase began.
- Fibo levels have been put in place, but it's nice to see how it aligns perfectly with the red dashed line that comes from the LPS (last point of support February 07) and after that our lovely BTC jumped to its new levels at that period.
- From now on, for me those two red dashed lines are very important (if we believe in past events)
- 38~37k "should" be our LPS. Why these levels? Because why not? Just drag the price a bit lower in order to KEEP getting better positions and even a bit lower from 37 (bear trap) so it can trap some bears :)
We can range a while between the red dashed lines, but let's not forget about GP and how it aligns with the support area 37189$
Patience & surveillance. Let the whales/institutions/smart money creates the movements. We also can follow, we just gotta do it in a smart way. It's nice to see how price action behaves and now comparing it with the past events, we might still have bullish moments.
Note
BTW the arrow & golden circle meant to be at the GP level. Don't know why it appeared there.
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