Bitcoin H&S Target Touched 8 times. Bull run will resume soon.
Pretty simple analysis here. I find that often simple analysis isn't any less correct than complex.
Anywho, Bitcoin dropped perfectly from our neckline of the H&S pattern at around 50k, exactly where I sold. I then hit our target down from that neckline perfectly! You can see this target drawn on the chart. Here is where I immediately posted that we should all be buying. Though unintentional, I drew the target line weeks out. We've hit that target line now (or have come close) 8 times.
Our upward resistance now becomes the ORANGE uptrend line from MID-OCT of last year. You can see we've hit our heads on that quite a few times as well. I expect it to break soon. However, the reason that this post is neutral, is because it has not broken yet. I am and have been fairly bullish ever since BTC hit 30k. That is obvious from my posts which you can view below. However, I will only become a full-on bull again once we break that overhead resistance (ORANGE trendline). And although I am mostly all in the crypto market again, my sell stops are fairly tight. This last resistance is huge and MUST be hurdled first.
Happy trading all!
Anywho, Bitcoin dropped perfectly from our neckline of the H&S pattern at around 50k, exactly where I sold. I then hit our target down from that neckline perfectly! You can see this target drawn on the chart. Here is where I immediately posted that we should all be buying. Though unintentional, I drew the target line weeks out. We've hit that target line now (or have come close) 8 times.
Our upward resistance now becomes the ORANGE uptrend line from MID-OCT of last year. You can see we've hit our heads on that quite a few times as well. I expect it to break soon. However, the reason that this post is neutral, is because it has not broken yet. I am and have been fairly bullish ever since BTC hit 30k. That is obvious from my posts which you can view below. However, I will only become a full-on bull again once we break that overhead resistance (ORANGE trendline). And although I am mostly all in the crypto market again, my sell stops are fairly tight. This last resistance is huge and MUST be hurdled first.
Happy trading all!
Stewdamus Trades -
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
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Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
