Last time two times BTC tested this trend line and the base of the RSI pattern we rocket up 40% and 70%.
The RSI pattern looks to be coiling up for a final explosive move for now, with an RSI target of 74.35.
With the market currently being in fear on the fear and greed index, I will be adding more to my position, on this trend line retouch with a tight stop not FA.
We can expect the 20 and 55 EMA to cross bearish for a day or two, as it did on the previous test.
My target on the next pump is 79424 which I feel is conservative.
Nothing about this chart is bearish yet. In order for me to reconsider one of these will need to happen:
Price 10% below trend line closed on a daily candle.
Another outside event dumping the market.
SPY taking a dump > 8 %.
Price closes beneath 50000.
The RSI pattern looks to be coiling up for a final explosive move for now, with an RSI target of 74.35.
With the market currently being in fear on the fear and greed index, I will be adding more to my position, on this trend line retouch with a tight stop not FA.
We can expect the 20 and 55 EMA to cross bearish for a day or two, as it did on the previous test.
My target on the next pump is 79424 which I feel is conservative.
Nothing about this chart is bearish yet. In order for me to reconsider one of these will need to happen:
Price 10% below trend line closed on a daily candle.
Another outside event dumping the market.
SPY taking a dump > 8 %.
Price closes beneath 50000.