JacintoMonteiro

Bullish Unique Three River Bottom in the making?

COINBASE:BTCEUR   Bitcoin / Euro
I think we will continue going up.

Just sharing for discussion and may continue updating TA if pattern is confirmed :)

Must close day well above 27,7k
Trade active: Currently in 27,7k. Situation seems to be progressing well in the 4H Chart too.
Trade active: 4H Chart
Looking well inside the rising channel.
Trade active: The 4th candle of the 4h chart is almost closing and all looking good so far concerning the pattern in the daily chart. Corrected a detail on the geometry.
Trade active: The daily candle today is looking NICE!!!!!
The Bullish Unique Three River Bottom pattern is looking very authentic!
Lets keep track now on the rising channel!
Trade active: Still inside the rising channels...

Trade active: Jan20 Line added to the chart. Very important day!
Trade active: Nice jump right into the middle of the first rising channel:
Trade active: 1H Chart:
BTC made it to the top of the middle of the first rising channel.
We have great resistance at 34k euros (or 42k usd).
We may create a double top and then retract.
Or just pass throu the last ATH and attempt a new one! I think this will be the case but we must be always alert.
Trade active: Lets see if BTC can breakthrou the resistence before or after Biden´s inauguration and 1,9Trillions USD stymulus.
Trade active: In purle some contacts of BTC with the rising channels. Ugly chart i know but this way we can clearly see where BTC touchs several times during a 24h cycle.
If we break the bottom of the rising channels, expect big retraction.
If we cross over the red 34k€/42k$ euros main resistance line expect a move to 41,3€/50k$.
A new stimulus package by the white house is going to be announced soon. Every time they decide to print more money, we win. Maybe not in the short term but in the mid-long term we win due to the inflation rate situation of the world economy.
Trade active: Milimetric touch on the bottom of the second rising channel.
Hopefully it will hold.
Trade active: BTC is holding to the rising channel with such a great accuracy that it is surprising me. Seems like BTC is going sideways before biden´s inauguration and hopefully if all goes well tomorrow it will continue its way upwards. Lets see how it goes.
Trade active: BTC exits the rising channel exactly in Biden´s day. Bad sign but not the end of the world because it can be a bear trap, hit MA200 and bounce back to the rising channel.
Trade active: Huge Dip and BTC bounces on top of the first rising channel (since March20) and seems to have found support at 24,5keuros/30kusd. Lets see if it holds for more growth from here.

Comments

Great analysis!
+1 Reply
@exodus23x, Thank you!
Reply
Fantastic chart layout. I like it
+1 Reply
JacintoMonteiro TheSignalyst
@TheSignalyst, Thanks my friend!
Reply
What day though? Its 24h trading. ;)
Reply
@rinnin, Hi! Sorry for the confusion. Btc must close the current daily candle above 27,7k. If we dont see this, but tomorrow btc still keeps inside the rising channel, I guess the pattern is still playing on. Lets see how it goes patiently.
Reply
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