By making a new all time high, BTC has activated the following price targets
V=6934 N=6033 E=8000
I have identified this as a V type wave, evidenced by price structure and 61.8% retracement. For this reason I have confidence in the V target, not so much our E.
But we must keep in mind that the further we keep going up the harder it is to sustain.
For this reason we can't be too confident and pay attention to price action and order flow. We must also keep in mind that the timeframe I'm using to base my ideas is the daily and not the usual 2 hour and 4 hour charts I post, meaning a lot can happen between "here" and "there" Stay safe and happy trading folks.
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We have been consolidating just under our N target.
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We have hit our N target perfectly. You can take a portion of your profit if you're feeling conservative.
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We are halfway between our N target and our V target.
Trade closed: target reached
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We have hit our V target.
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BTC has met and surpassed our V target. All my leveraged positions have been closed, as I only like to make high probability moves. If my advice helped make you a little cash and you're feeling generous, donations are welcomed and appreciated BTC: 363sDXLXkV7tm3pJmK2mLTDZjdTANbiA4A ETH: 0x4c1aA87252e31C2552248b3561c9dBef7E21C7Fb LTC: LeUKche2Mz51tNG4jmTj2LkufkNUd4DpFm
Donations keep the analyses rolling it. Thanks all and happy trading.
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It appears that bitcoin has just about reached our E target. While it is getting less and less likely that it will continue rising, we must prepare for the event that bitcoin does decide to ride past our E target. For this reason I have created updated bullish projections for bitcoin found here.
However we must keep in mind that we are in a place price-wise that I would consider "top-heavy" or simply meaning it has a lot of people holding it that are feeling like they want to take profit.
Trade closed: target reached
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I meant to post this one... my mistake
Anyways it appears the wave we observed on that post failed. Our E target for this post was our top. thanks all and happy trading