What's Next...Grab Bulls by the horns ?
Breakout on BTC with volume.
Accumulation Distribution trending upward above its EMA13 (black/aqua).
Bull Flag with pennant inside.
First Target ($49,168) is a 1.27 fib extension and is near 50k; a strong psychological number.
Second target ($54,389) based on the high low of the prior triangular range. Near the 1.445 mid point (not a fib). A measured move up may be possible.
Third target ($58,000) almost touching the 1.618 fib extension, based on the projection of the pole of the bull flag.
Perhaps we can expect profit taking at this levels. There are lot's of psychological levers here.
There can be a possible MACD divergence below (drew a blue line down there).
There is huge sell volume bar below that can serve just as a sign of caution.
The sell volume bar was followed by a nice green volume bar.
So even though there are still not clear signs of a pullback, it is better to move with caution.
It never ceases to amaze me how powerful the bull cycle of the cryptos can be.
If it adds value please LIKE and FOLLOW. Just an OPINION. Best of Best :)
Accumulation Distribution trending upward above its EMA13 (black/aqua).
Bull Flag with pennant inside.
First Target ($49,168) is a 1.27 fib extension and is near 50k; a strong psychological number.
Second target ($54,389) based on the high low of the prior triangular range. Near the 1.445 mid point (not a fib). A measured move up may be possible.
Third target ($58,000) almost touching the 1.618 fib extension, based on the projection of the pole of the bull flag.
Perhaps we can expect profit taking at this levels. There are lot's of psychological levers here.
There can be a possible MACD divergence below (drew a blue line down there).
There is huge sell volume bar below that can serve just as a sign of caution.
The sell volume bar was followed by a nice green volume bar.
So even though there are still not clear signs of a pullback, it is better to move with caution.
It never ceases to amaze me how powerful the bull cycle of the cryptos can be.
If it adds value please LIKE and FOLLOW. Just an OPINION. Best of Best :)
Note
Reached First Target. Barely, let's see if it breaks to the upside. Trend seems very powerful.
“All fixed set patterns are incapable of adaptability or pliability. The truth is outside of all fixed patterns” BL
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.
“All fixed set patterns are incapable of adaptability or pliability. The truth is outside of all fixed patterns” BL
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.