Close the weekly candle above $58,000 and the technical target is $74,000... Or we could just be faking out? hahahah But considering the direction ETH has been going, fuck it - #tothemoon! If we close the weekly candle below $58,000, I'm banking on a dip to meet the 20 weekly moving average of around $49,000 and bounce hard to the upside in the next week or two.
Back in early October 2020, BTC broke back above the daily moving average ribbons at $11,000 and signalled the beginning of the bull run. After a growth of 500% in the BTC price, BTC tops out and breaks back below the Daily Ribbons. If we close today's daily candle above $56,600, and BTC goes on another 500% increase, that's will bring a price target of $340,000...
On the BTC 4hr charts, it appears we have matured into a descending wedge with at least a rising wedge and a symmetrical triangle contained with. The 4hr time frame seems to be on track to extend the bullish hidden divergence further too. With the Fib Retracements from the swing low of the last consolidation bottom and the all-time high, ironically, $42k is not...
Form the shoulder, break the neckline... Inverse Head and Shoulders - $47900 the target. Could all turn to the brown stuff pretty quick mind :P
We can see an ascending triangle forming over multiple time frames now multiple touchpoints on support and resistance have matured. The target for each move is $58,000 to the upside and $41,000 to $44,750 to the downside. Bitcoin has got until Midday (GMT) on the 1st March to make up its mind which way to go!
On the hourly chart, we’re forming a double bottom combined with a bullish hidden divergence.. $52,750 the target! Could it also validate the ascending triangle and this dip just be a fakeout?!
A symmetrical triangle on BTC 15 minute charts has formed, which if breaks out to the upside, will also breakout of the 4hr Rising Wedge.. Get ready for a MOONSHOT
It's going to happen soon!
Building off the forming bull flag, if we were to see a break out within the next 12-13 hours, the bullish break out would see a target of $52,000. A breakdown would see a target of $37,800... The odds are leaning more bullish than bearing?