On my last post "How It Played Out Pt. 1", I described how I thought btc
would hug the demand line established on Oct. 21st before deciding its next direction. You can see it did just that and even closed a day below the demand line before breaking, retesting, and holding the line. Btc
seems to have decided it wants to keep running and respecting this line. Again, once there is a confirmed breakdown of this trend I will turn bearish
. For the near term, my best guess would be btc
following the sloppy IHS
formation I have shown above. The right shoulder should give a final confirmation retest of 35k before moving up to new ATHs.
This is not financial advice.