BITCOIN LOOKING SUPER BULLISH!!!
The Godfather of crypto has finally broke out of it's slump!! As you can see on the 4hr. chart BTC has created a very bullish head and shoulders pattern. Why very bullish? Because it is sloping upwards. The slope of the pattern will generally tell you how bullish the pattern is. You can also notice it made a small bull flag that it has finally broke out of. Now I am going to make a prediction that most will not. According to the head and shoulders pattern measurements this should go straight up to $14,000 rather quickly but I am calling something else. Looking at the bigger picture there is a strong resistance line around the $11,750 area and I think we will get there, then see a retrace where a cup and handle formation will take place then it's liftoff to 16K! I know many will argue, but this is not a bad thing and I've seen a lot of cup and handle formations in crypto lately and many of them have played out If you're going long it doesn't matter anyways. What we are seeing in the crypto currency market right now is a good thing especially for those like myself that lost their ass during the crash. Good luck to all and happy trading!!!
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