Bitcoin is right now forming a bullish cypher pattern which is a bullish harmonic pattern. If it plays out a perfect entry would be around the $34600 area. Target would be 41-42k. Here are the following reasons why this would be a great entry:
I think these are pretty valid reasons to enter this long position and remember, only enter if price reaches point D which is around $34600 - $34500! Follow for more free trade setups. Good Luck traders!
- Hidden Bullish divergence on the hourly.
- Bullish Cypher with almost perfect retraces.
- Perfect retest of the falling wedge that has formed on the daily candle
- BTC is currently in phase D of the wyckoff accumulation pattern which according to the pattern should be a big move towards the 41-42k resistance area.
I think these are pretty valid reasons to enter this long position and remember, only enter if price reaches point D which is around $34600 - $34500! Follow for more free trade setups. Good Luck traders!
