I still see a potential ascending triangle on the bitcoin chart
This is a 2-day chart (you could look at 1 day, but I am showing 2 day to condense view)
Initial target I have is right at $10K
This happens to be at our multi-year down-trending resistance line
Things I like that increase the odds of this:
1) Price Indicator movement (especially MACD which is set to turn positive)
2) Fear and Greed Index has remained at historic lows for quite some time
3) My sense is most people are bearish
4) For those that are bullish, most expect a move to 9K area and then a correction (it will be interesting to see if we do move up, how much of a correction do we get until we ultimately make another significant move to the updside)
This is a 2-day chart (you could look at 1 day, but I am showing 2 day to condense view)
Initial target I have is right at $10K
This happens to be at our multi-year down-trending resistance line
Things I like that increase the odds of this:
1) Price Indicator movement (especially MACD which is set to turn positive)
2) Fear and Greed Index has remained at historic lows for quite some time
3) My sense is most people are bearish
4) For those that are bullish, most expect a move to 9K area and then a correction (it will be interesting to see if we do move up, how much of a correction do we get until we ultimately make another significant move to the updside)
Comment:
Everything is still looking good for a move up to $10K; are are above horizontal resistance and seeing bullish movement on our price indicators
Comment:
We hit right at our initial target and met the descending trend line
We have since pulled back
Can we break and make a move towards 14K....
We have since pulled back
Can we break and make a move towards 14K....