Looking at Bitcoin on the daily time frame we see lower lows as compared to Ethereum that saw a double bottom on this most recent contagion event. Now, if Ethereum continues that path and general trend upwards from this event, Bitcoin should follow would and bottom out around the $16,889 level before making its way upwards towards $19,356 and testing out those levels seen before the FTX meltdown.
SBF just got arrested, pretty big bottom signal in the markets, we’ll see how they like that news event tomorrow on NY open, but if this explosive move continues to the upside, I’m looking at ~$21,000 to pull profits (TP2) after shaving a bit off at $19.3k as we break these resistances.
There is a possibility like always to come back and retest the origin candle of the breakout, however, in this case that would make for a great entry at $17,295. Anywhere in the range of $16-17k is a phenomenal entry for a target sell price of $19.3k, and an even better entry for a long term slurp. I entered at $16,889 and will keep you updated with more signals to follow.
As always please do your own research, I am not a financial advisor and this chart is for educational purposes only.
SBF just got arrested, pretty big bottom signal in the markets, we’ll see how they like that news event tomorrow on NY open, but if this explosive move continues to the upside, I’m looking at ~$21,000 to pull profits (TP2) after shaving a bit off at $19.3k as we break these resistances.
There is a possibility like always to come back and retest the origin candle of the breakout, however, in this case that would make for a great entry at $17,295. Anywhere in the range of $16-17k is a phenomenal entry for a target sell price of $19.3k, and an even better entry for a long term slurp. I entered at $16,889 and will keep you updated with more signals to follow.
As always please do your own research, I am not a financial advisor and this chart is for educational purposes only.
