Bitcoin Howling for the Moon! Harmonic Confirmed!?
It looks like the harmonic has completed and I have taken a long position. I'm expecting more upside.
My first target is C at around $34,800.
The 2nd target is A at around $38660.
For me, the final target for this harmonic is the 1.618 of the A/D Fib, which is around $42700.
Here is a the 1hr chart pulled back a bit so we can see all the targets.
On the daily chart it appears we have broken out of a descending triangle to the upside.
The dashed lines show me we are likely still in a giant symmetrical triangle, which to me is bullish.
The measured move for the current break puts Bitcoin above $58,000.
The daily with the target and potential date we could reach the target visible.
Bitcoin has me howling for the moon! Owhooooo!
My first target is C at around $34,800.
The 2nd target is A at around $38660.
For me, the final target for this harmonic is the 1.618 of the A/D Fib, which is around $42700.
Here is a the 1hr chart pulled back a bit so we can see all the targets.
On the daily chart it appears we have broken out of a descending triangle to the upside.
The dashed lines show me we are likely still in a giant symmetrical triangle, which to me is bullish.
The measured move for the current break puts Bitcoin above $58,000.
The daily with the target and potential date we could reach the target visible.
Bitcoin has me howling for the moon! Owhooooo!
Comment:
Looking at the daily chart...the last time we double bottomed on the green support box we made an almost 25% move. For me, this could be more confirmation of a bullish trend.
Owhooooo!
Owhooooo!
I'm looking for a move above the red box of resistance and then a back test to confirm we've flipped it to support. I will likely increase my position and adjust my stop loss to C if this happens, as it will be more confirmation that the harmonic is playing out.
Owhooooo!