Hi tribe!
I am having goosebumps while doing this analysis.
You know where does this quote come from? V for Vendetta.
Here is my take on shorterm BTC.
I have let myself drew an accending triangle in which we are trading for the last 15 days.
I know we were all chanelling, broadning wedges and, calling double tops and bottoms, but it seems like Bitcoin is making ninja moves in through out all this period.
As well we have been trading between 2 major fib levels, as well in between of our previous year highest 2 monhly closes.
From 11900 to 14300(atm).
Bulls are eyeing .786 fib.
Higher target of breaking up accending triangle is 16400. Lower is 15400.
Confirmation is almost in, we broke previous Fib 0.618, now we "just"need to bounce of it.
It also looks to me as a giant bullish flag to be frank.
But.
We also need to get above the multiyear support line that we broke in March, and never got above it, and now that seems to be the only obstacle towards 15k and above.
If we brake that, and if we hold it onto it and build support, I think we maybe won't see anything below that line. SInce that is higly optimistic, lets hope we will brake above the multiyear support, trade in the 14-15k until whales decide to take some profits and reaccumulate.
We know we all want to see a lower BTC so we can ride the wave all over again. Bears are praying for a 12000 level retest.
The bearish outcome would be for BTC to make a fakeout and if we don't hold our previously built supports, we will be facing a possible 12000ish reset. Newbuyers will panic, but institutional FOMO will kick in. have in mind the last bull run the tribe was all alone.
Tell me what you think. Moon time is yet to come, this is just getting warmed up for the winter.
Not financial advice.
Cheers!
I am having goosebumps while doing this analysis.
You know where does this quote come from? V for Vendetta.
Here is my take on shorterm BTC.
I have let myself drew an accending triangle in which we are trading for the last 15 days.
I know we were all chanelling, broadning wedges and, calling double tops and bottoms, but it seems like Bitcoin is making ninja moves in through out all this period.
As well we have been trading between 2 major fib levels, as well in between of our previous year highest 2 monhly closes.
From 11900 to 14300(atm).
Bulls are eyeing .786 fib.
Higher target of breaking up accending triangle is 16400. Lower is 15400.
Confirmation is almost in, we broke previous Fib 0.618, now we "just"need to bounce of it.
It also looks to me as a giant bullish flag to be frank.
But.
We also need to get above the multiyear support line that we broke in March, and never got above it, and now that seems to be the only obstacle towards 15k and above.
If we brake that, and if we hold it onto it and build support, I think we maybe won't see anything below that line. SInce that is higly optimistic, lets hope we will brake above the multiyear support, trade in the 14-15k until whales decide to take some profits and reaccumulate.
We know we all want to see a lower BTC so we can ride the wave all over again. Bears are praying for a 12000 level retest.
The bearish outcome would be for BTC to make a fakeout and if we don't hold our previously built supports, we will be facing a possible 12000ish reset. Newbuyers will panic, but institutional FOMO will kick in. have in mind the last bull run the tribe was all alone.
Tell me what you think. Moon time is yet to come, this is just getting warmed up for the winter.
Not financial advice.
Cheers!
Trade closed: target reached:
Perfect call!
TP1 target of 15400 hit, currenlty working our way to break above the 16k line. When braking 16k, we are off to eyeing 2nd TP of 16500.
What a day!
TP1 target of 15400 hit, currenlty working our way to break above the 16k line. When braking 16k, we are off to eyeing 2nd TP of 16500.
What a day!
Comment:
TP 2 still in play.
