Fomo
History repeats!BITSTAMP:BTCUSD appears to be in a long term consolidation, accumulation period for past 2 years. Based on previous models this is what I expect in the coming months, maybe sooner. During this period we will see distribution and mass scaling of BTC to buyers on the fence, target from moon phase is 3-6k but I will not be surprised if targets get blown away by mass FOMO due to mainstream media publications on blockchain adoption and multiple blockchain ledgers which are all denominated BTC (Ruler of the Blockchain). It's time to start analyzing weekly charts, next will be monthly timeframes.
Out of the triangle, off the top, and to the moon!From my perspective, we're out of the triangle. I'm aware that Chinese prices look very different, but the price curve is pointed up instead of sideways on increasingly large time scales.
There was a clear break-out with a higher high which re-tested the top of the triangle and bounced upwards to new 60-day highs. I think this is it; the next step is parabolic :)
TRIANGLE PLAYOUTJep, this is it. the end is near. triangles playing out and we all gonna get rekt! I really wanna see a brakUP out of this lame sideway...
BUT! BUT! there is ETH there is HALVING and there is lot of FOMO–
so, we break 400$ an I see us back at 320$ and lower. that's why I call for 430$
«time will tell» decision is near
BTCUSD developing a healthy bull trendBitcoin is at a huge juncture at $300 and it looks very close to breaking through. Plenty of room for upside and once it cracks that $300 mark, it's on like donkey kong. Depending on the risk you can handle, you can pick a stop-loss at various levels. I'm personally keeping a pretty tight stop-loss below the breakout zone on a 2h scale because I believe this is going to happen very quickly once it breaks.
When the price pops, we will see a quick run to the upper $300s before a retrace. If and when this occurs, I plan to play both sides of it. We can see volume supporting this trend on a daily time frame, but also on shorter time frames as well, with steadily increasing volume accompanying steadily increasing price. What's more, the speed of the trend seems to be increasing, although we obviously haven't reached climax levels yet, which would be indicated by huge volume and very fast upward price action. This would also be a good indicator that it's time to fold our longs and begin shorting.
Good luck!
