DrDovetail

BTC price close to reaching falling wedge target from March 11th

Long
BITSTAMP:BTCUSD   Bitcoin
Amazing to see the price action this close to reaching the projected breakout target from the bullish breakout of the falling wedge that we had recorded al the way back on march 11th. I was confident we would come close to hitting this projected target but honestly thought we'd see at least one retracement before we got as close as we are now. We can see we just hit the breakout target from the weekly bullflag we had just broken up from at 6888 whether or not we will continue up from here without a retracement is uncertain but shorts are still surprisingly high so we may have another leg up potentially which would allow us to reach the big white falling wedge's full target. We must remember however that falling wedges are one of those shapes that doesnt reach its full target as often as some of the other chart patterns so to even get this close is impressive and to do so before any corrections is even more impressive. I had originally called for a breakout from this wedge around february 18th but had predicted the breakout would occur slightly before march 11th so originally had the breakout target at around 7.6k but once the breakout was fully confirmed a few days later we honed the target to around 7229 so there is a chance we can still continue up from here. FOMO can easily fuel us a little more until longs start to pick up more steam in which case the momentum will start to shift the other way. Exciting times in btc and no doubt a clear sign we have reentered the bull market. Because of that this idea will be listed as long even if we do finally have a correction soon the not so distant future(next 3 years)should be quite bullish.
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