Bitcoin may short squeeze to 62k, Counter
Updated
Looking at the 3 day heikin daily and 12 hr heikin i believe we may have found major support at 45k to allow us to short squeeze to 62k.
1. on the 2 hr micro chart, breaking above the mcginey 14 historically with a green lsma curve up, show a potential break out
2. 62k perfectly aline's with a fib speed line dating back to 2017 at the accelerated point that led to the 2017 top
3. The 12 has found major support on the mcginey dynamic, which show superior support and if we can succely break above the 52500 level(the major ichi gann resistence) we could have a massive short squeeze and possible start a Wave B upwards.
4.The daily also holds mjor support on the ihci gann showing that this massive correction still allows us to be in a bull run, only when we OPEN below the massive gann moving avg will we see a bear market.
5. the fibonacci EXTENSION, from the lows of january around 33k to the top of the market move around 58k in february back down to our most recent lows of around 45, a 0.618 extension to 62k is possible if we maintain this support level of 45k, if we break it, this would mean the start of a temporary bear market
6. the 3 Day is also special, for the entire run, The linear regression curve 50 period, has remained a major factor for extreme bullishness, we have successfully maintained this MA and onyl when we OPEN below it will we have a mjor crash and bear market(-80%), as long as it is maintained we are still bullish
1. on the 2 hr micro chart, breaking above the mcginey 14 historically with a green lsma curve up, show a potential break out
2. 62k perfectly aline's with a fib speed line dating back to 2017 at the accelerated point that led to the 2017 top
3. The 12 has found major support on the mcginey dynamic, which show superior support and if we can succely break above the 52500 level(the major ichi gann resistence) we could have a massive short squeeze and possible start a Wave B upwards.
4.The daily also holds mjor support on the ihci gann showing that this massive correction still allows us to be in a bull run, only when we OPEN below the massive gann moving avg will we see a bear market.
5. the fibonacci EXTENSION, from the lows of january around 33k to the top of the market move around 58k in february back down to our most recent lows of around 45, a 0.618 extension to 62k is possible if we maintain this support level of 45k, if we break it, this would mean the start of a temporary bear market
6. the 3 Day is also special, for the entire run, The linear regression curve 50 period, has remained a major factor for extreme bullishness, we have successfully maintained this MA and onyl when we OPEN below it will we have a mjor crash and bear market(-80%), as long as it is maintained we are still bullish
Note
XBTUSD, showing bullish support on 6hr at bottom of an ascending triangle, potiential short squeeze to 62-65kif we can continue upwards and break 52600. The daily is also test strong resistence at 50k, a strong open on sunday could push us up more the daily
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.