We have been watching recently the wedge development since spotted Jul 4. Few hours ago we said the wedge upper resistance line has been confirmed with 4 touch lower lows. 11/11400 area holding very nice and to expect breakout anytime soon.
Now it looks like we got the breakout we have been waiting for after a massive 4hr hidden bullish div spotted as well as bear trap triggered below 10k and we did warn you just in time!
I really got a lot of reasons to remain bullish especially btc still moving according to my original idea respecting every line and we are expecting every move during this bull run.
If you remember the 2nd BLUE resistance line that we mentioned before on 2 day chart, I consider its very important currently to get 2d candle close above 12k level and I believe once we get it, BTC will take over this long term resistance line and will fly hard again like it did with 1st Blue line. I believe the next station going to be 19k level by the end of this month!
If sharing my views help, kindly let me know and don’t hesitate to show that. Leave a follow, give thumb up, your opinions are welcomed in comments as well.
Previous idea: Bullish Descending Broadening Wedge In play!
4HR hidden bull DIV completed! Bear Trap triggered below 10k
Again! Get In The Train. 19k Next Month
Original idea: Get in the train and ignore your fear, ATH in 1-2 month
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Bitcoin free fly incoming! (click to read details)
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As we said in last update, if the price go below 11500 with 4 hr candle close this will invalidate my view but We have got 4 hr candle close above 11600 twice and its very clear btc is reversing right now , We have got hidden bullish divergence on 4 hr which is very clear:
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Not only 4 hr bullish hidden divergence but also 1 hr classic bullish divergence as well as macd crossover, have a look:
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1hr classic bull div + 4hr hidden bull div ( CONFIRMED ) When i published this idea ( Bitcoin free fly incoming! ) before we drop from 13k level, I did explain its still incoming and retrace to 12k level is very possible and we did retraced below it as well as i said we should wait 2-3 sideway moves before shooting upside So the idea still in process and so early to judge when dealing with 2d time frame even if we got closed below 11500 in lower timeframes but we did reverse very nice after we spotted divergences just in time before it complete and we did share with you!
I really wonder some people who asking for updates privately or in comments without even pressing like to the idea!!! Another thing i would like to point out, look to the trend line:
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Bitcoin bull run fractals on daily - Targeting Golden Ratio! ( click to read details )
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1hr classic bull div + 4hr hidden bull div + 1d hidden bull div ( Completed )
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Correction is almost over - no need to panic! Although we got lower price but in my opinion it doesn't invalidate anything yet, divergences on lower time frames most of times are complex but its a clear sign that reversal is coming. So if we look to the daily, we can adjust the trendline and today candle close will tell us if its still valid. The pattern will turn to be a large pennant more than a triangle and both of them most of times are bullish when formed in uptrend.
The fractals on daily rsi&macd are almost completed so yea today should be the day to make it or break it. daily close below 10300 going to be very bad.
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Reversal: Resistance Turned Support - ( click to read details )
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Trap: BTC below $10,000 for the last time! ( click to read details )
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Anyone wondering what is the count for the previous bear market correction in my opinion:
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Check last idea to read updates:
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BTC is out of RED zone .. $23,000 Could be a new ATH! -- (click to read details) follow idea to get updates.
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Will BTC take over this stubborn resistance this time! ( click to read details )