Expecting a bounce off of ~12k. Will look for a safe entry on lower timeframes once we get there. Log bear trendline Horiz resistance VP low volume node 1d cloud
Well, things look pretty bullish: We broke the inverse H&S line We broke the steepest downtrend line We broke daily 200EMA Daily MACD crossed up (a few days ago) Daily MACD has formed a long term bullish divergence since December RSI broke up (a few days ago) I'm long. Entry: 8800 Target 12400 (1D cloud, low volume node, horizontal...
Current scenario looks pretty familiar to June -- extended impulse wave followed by a very long consolidation triangle. Last time we broke down. Watch out, and consider a short around 16.3k.
The pattern for the last year has been to break into a steeper bull channel every few months. Using fib extensions, and looking at the previous runs, I'm anticipating a target of 32.5k-35k before Bitcoin has another major dip/correction.
Step 1: Wait for blood in the streets. Step 2: Place order just above where the 120 SMA and previous ATH converge. This should fall within the 50-61.8% fib retracement zone on the daily. Step 3: Wait patiently for your order to fill. DO NOT PANIC. You will be tempted to move your order lower when price gets close. Don't. Step 4: Sell when price doubles or...