Yet ANOTHER breakout of a bullish pennant on BTC! If this breakout is indeed true and not false, I believe this move will propel us to $50,000+.
Strap in y'all, best of luck.
BTC appears to be forming the beginning of a small bullish pennant on both the 1 Hour chart and the 4 Hour chart, a key indicator that if this breaks above the top of this pennant, a bullish continuation will most likely occur. We still have a lot of potential for growth, however, a major retracement is still possible, so trade carefully and keep capital...
If this support holds, then this is a great sign for more fuel for this rocket. I am still expecting us to reach around the 1.618 Fibonacci level before any major retracement. (Approx. $66k)
BTC new ATH! As long as $40,000-$42,000 holds as support, I believe this rocket ship is taking off to $50,000! If it does not hold as support, then make sure you are VERY careful buying up here because you may be buying into a bull trap.
For those of you already long, best of luck!
As I scroll through the many ideas on here, I noticed a reoccurring theme of many people banking on a retracement back down to the bullish pennant (or even lower) before we have reached these levels for a second time, so I began to contemplate why that did not happen. I believe you will have your answer indicated by both of the 4HR candlesticks I have highlighted...
Careful believing any FUD you are seeing, do your own research and form your own opinions. Gold has a history of false breakouts and stop hunts. Getting in too early puts you at risk of these scenarios playing out against you. A wise trader will wait for confirmation before risking their capital. Patience and capital preservation is key here. I am still overall...
So far the breakout appears to be true and has found resistance at a key resistance level: $38,500. I am witnessing a lot of indecision in this market right now. A lot of people are banking on a reversal point from here, however a lot of people are also long and anticipate a double top around $40,000. At this point I remain neutral and am still holding onto my...
Last time I posted on BTC, Elon Musk put BTC in his bio, causing a spike of around 10%, breaking through the bullish pennant BTC was sitting in. Soon after, BTC retraced back within the bullish pennant, indicating a false breakout. Now we're back above the pennant for a new breakout and it appears we have formed a large inverted H&S as well, the only question is:...
Not only is Gold forming an inverted head and shoulders pattern within a descending wedge, it also appears to be forming a decade long cup and handle. Lot's of bullish continuation indicators are presenting themselves but nothing "confirmed" yet. Obviously there has been false breakouts on both the bottom and upper side of this wedge, however, long term I remain...
Could be a false break out, but as you can see, there have been several pennants formed on it's rally upwards. Maybe this is just history repeating itself and now we are on to higher highs? Such exciting times we are living in
