I am sorry I haven't posted in a while. Like many people in this community I think that hope had been lost for any near term bull run. You can see this from less people posting on TV, on youtube, talking about BTC, and this is a good test for general sentiment. The Hype is gone the rage is forgotten and now were to a point where we could potentially change our structure of corrections and start impulsing like the BTC of old. We can see that since this right shoulder formed we have had impulsive moves, with ZERO pullbacks.
Pullbacks: If you missed out and are waiting on a pullback, then you might not get that kind of grace as markets are cruel. 7000 would probably be the max pullback potential.
Getting to the target price from our Inv H&S (8k), multiple resistance lines lie ahead of us as shown on the chart. The grey lines remember, were the large triangle pattern that held us within it for 5 months. BTC mooning soon.. Very possibly.
Expect strong resistance at 7700. If you look at the chart and we are holding/consolidating above 8000 then you could be looking at an Uncaged Bull.
Daily RSI is overbought, although I am actually, going to ignore this as sentiment is changing in the market place and we have seen multiple instances on runs where traditional RSI's and Stochastic remain in over bought/sold conditions for an extended period of time.
Could Be happening now!
Pullbacks: If you missed out and are waiting on a pullback, then you might not get that kind of grace as markets are cruel. 7000 would probably be the max pullback potential.
Getting to the target price from our Inv H&S (8k), multiple resistance lines lie ahead of us as shown on the chart. The grey lines remember, were the large triangle pattern that held us within it for 5 months. BTC mooning soon.. Very possibly.
Expect strong resistance at 7700. If you look at the chart and we are holding/consolidating above 8000 then you could be looking at an Uncaged Bull.
Daily RSI is overbought, although I am actually, going to ignore this as sentiment is changing in the market place and we have seen multiple instances on runs where traditional RSI's and Stochastic remain in over bought/sold conditions for an extended period of time.
Could Be happening now!
Comment:
Theory time: any mooning potential will be contingent upon positive ETF news in 3 weeks. Until then I think we will see baked in the cake strength, and maybe a week before the hearing weakness/uncertainty.