My goal is simplicity on this one - Trend, Technical Analysis, Support Levels. Like many traders, I put too much faith in the institutional shorts in the futures trade this week and missed a perfect buying opportunity in the 13,500 area. So I'm getting back in gear here. We have reached higher highs on BTC today. In order to forecast what happens next, lets see how this has played back in the recent past. Wedge, breakout, consolidation, breakout, wedge, breakout! So my forecast over the next 2 weeks is either a 1.) wedge pattern > breakout or 2.) consolidation > breakout, and I would like to see my traders recognizing both scenarios and taking action. Either way, keep your eyes on the markets and let me know what you think! Buy the breakout. Buy the pullback. Support levels listed above on the chart. We are headed to $20,000 very soon!!!
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BREAKOUT Acheived! Take 1/2 of position off (SELL) at $20,000. Pullback price target will be updated in next Idea. Thanks.