We are up and out of the sticky 6000 range! Are we???
BTC had a strong daily close above my inverse head & shoulders formation that I released to you all a week ago. This was a massive move in my eyes because we closed well and truely above where I expect, we closed confidently above the neckline and that shows to me that buyers are really starting to take short term control of the market. This close was so strong that we have yet to see a retrace and retest of that neckline. I was 100% expecting a pullback and a retest shortly after closing above.
For the short term future I believe we will continue up, test the overall falling wedge on the daily and then process with a pullback. From a technical stand point we may have quite a hard retrace from there back to either the neckline of the old inverse head & shoulders or find some minor support.
From there on I believe it will be crunch time. We either break out of the falling wedge or process to fall back into the hole we just got out of. This will depend on how the next month or so go with BTCs fundamentals.
IM AM BULLISH!!!
We have been smashing signals out regardless of this BTC focus and have been making some huge plays for our members.
Thank you all!
Telegram - @JTrades
Facebook - JTradesCrypto
Twitter - CryptoTeresi
BTC had a strong daily close above my inverse head & shoulders formation that I released to you all a week ago. This was a massive move in my eyes because we closed well and truely above where I expect, we closed confidently above the neckline and that shows to me that buyers are really starting to take short term control of the market. This close was so strong that we have yet to see a retrace and retest of that neckline. I was 100% expecting a pullback and a retest shortly after closing above.
For the short term future I believe we will continue up, test the overall falling wedge on the daily and then process with a pullback. From a technical stand point we may have quite a hard retrace from there back to either the neckline of the old inverse head & shoulders or find some minor support.
From there on I believe it will be crunch time. We either break out of the falling wedge or process to fall back into the hole we just got out of. This will depend on how the next month or so go with BTCs fundamentals.
IM AM BULLISH!!!
We have been smashing signals out regardless of this BTC focus and have been making some huge plays for our members.
Thank you all!
Telegram - @JTrades
Facebook - JTradesCrypto
Twitter - CryptoTeresi