Btc is forming a textbook head and shoulders pattern on daily chart. This is only a forecast, that dip will be the last dip before the rally starts. DYOR
friends, as you know i have been bullish since 40k buy opportunity and been aiming at 46.5k.
Even in the days there has been a lot of doubts i hodled and knew after re-tests the price would push up.
You know this market always goes the opposite of what the majority thinks.
It is not yet time to be completely be bullish.
We need one more dip before 50k otherwise...
44k reached and holding fine as predicted.
2 downtrends broken already and pushing for the next one.
Be ready for re-tests.
This weekend is very important and i hope to see a push to 46.5k.
Don't be greedy and take profit on your way up!
NFA.
As my previous analysis has shown 46.5k was coming. There has been a lot of doubt but here we are, second goal, 46.5k, is reached after days of re-test.
Congrats to everyone who hodled and added to their bags!
As i said before, fun times has begun, enjoy it!
Don't forget take some profit.
Patience and stop-loss!
NFA.
That was a beautiful dip that tested down to 40k gradually and holding above my purple line which is the downtrend that began in 14th of August.
This downtrend line has been successully tested 3-4 times within a month.
I hope you were able to use this dip as a buy opportunity.
Fun times ahead for those who are patient!
We will hopefully see it break 44k soonish...
Relatively high volume candle is here as i mentioned earlier.
We are below my 40.17 rsi line but above 30 which is a sign that we can still go up but there will be resistance.
This dip can be used as a buy opportunity however it is too early to say the downtrend is over and to be completely positive.
I know i have been bearish for days but you can see why....
the long-awaited re-test i predicted in my previous analysis arrived and has been successful.
If you were not able to buy enter at the re-test fear not as it is time for BTC to take a breather and let alt coins rise.
Even after that BTC should re-test around 47k before going up or down once more.
Patience and stop-loss!
I know we all want to be bullish here but it is not that simple with an upcoming FED meeting.
I can't be bullish before we break 49k here.
Volumes are low. It is likely that we will see a high volume candle soon yet it is difficult to say if it will be up or down.
Remember weekly candle closes are always a time to have a tight stop-loss and then potential re-entry below!
I am receiving a lot of requests for new analysis after previous ones have been accurate. However, the market is more or less the same as a day or two ago.
Do not be fooled by every green candle you see and always pay attention to the volume.
There is a possibility for a breakout which will get us to 50k but i can't suggest anyone to buy now.
For me now is a time...
