What a play :) We saw a nice little pump & dump, touch $9095 and rejection back down, were BTC stayed stable, for now :)
I think we have big wedge in progress, but with this control of the bulls we might see another push up to $10k or little more (fakeout outcome)
In other side there are a lot of long position made but i dont think that will happend in short term... we might see a squeeze of those positions in next couple of days and Bitcoin will have to test lower supports - we still didnt have a proper corretion, maybe it must get another HH to finish 2.wave.
Hit lhe LiKe if you like the idea :)
I think we have big wedge in progress, but with this control of the bulls we might see another push up to $10k or little more (fakeout outcome)
In other side there are a lot of long position made but i dont think that will happend in short term... we might see a squeeze of those positions in next couple of days and Bitcoin will have to test lower supports - we still didnt have a proper corretion, maybe it must get another HH to finish 2.wave.
Hit lhe LiKe if you like the idea :)
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wedge still in progress as planned
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bigger picture
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at this point BTC is in a small correction... Finding support $8540 was nice to see, still some power there... (4H candle close below this point means trouble).
If we see some side ways, there is not a lot of room, 3 days max., even then or sooner, there could be new HH made at about $9350, possible bigger run, target would be $11500 - $12500, but that would mean even biger fakeout of the blue line (2012 trendline). If blue line will be broken, we will see a lot of buy/sell action :)
That could be The Final fight for the Bears & Bulls :) (for some time)
If we see some side ways, there is not a lot of room, 3 days max., even then or sooner, there could be new HH made at about $9350, possible bigger run, target would be $11500 - $12500, but that would mean even biger fakeout of the blue line (2012 trendline). If blue line will be broken, we will see a lot of buy/sell action :)
That could be The Final fight for the Bears & Bulls :) (for some time)
Trade closed: target reached
Othervise, if the 4H candle close near or under $8300, we will see some red numbers :)