This is an update on my BTC EMA Breakout idea. Things are looking up for BTC with this strong upward movement. If you've been following this idea from 12/17, congrats! This trade is making us 18% so far! It is also far from over I feel.
We broke through the first major resistance levels around $3.9k and our next level is around $4.3k. Any breakout above $4.4k will be really exciting, and we could see a major uptrend from there!
Targets:
My targets are still around $4.8k to $5.2k in the Golden Pocket, but if we reach that, we are moving into uncharted territory (so that may not be a trade close).
Where Is The Top:
I know a bunch of people have been trying to call the top with Elliot Wave counts, bearish divergence on signals, and different things. BTC was so oversold from that last drop from 6k that anything is possible at this point. So, I feel there is no reason to try to call the "top" of this push, and that we still have A LOT of room to go up.
We broke through the first major resistance levels around $3.9k and our next level is around $4.3k. Any breakout above $4.4k will be really exciting, and we could see a major uptrend from there!
Targets:
My targets are still around $4.8k to $5.2k in the Golden Pocket, but if we reach that, we are moving into uncharted territory (so that may not be a trade close).
Where Is The Top:
I know a bunch of people have been trying to call the top with Elliot Wave counts, bearish divergence on signals, and different things. BTC was so oversold from that last drop from 6k that anything is possible at this point. So, I feel there is no reason to try to call the "top" of this push, and that we still have A LOT of room to go up.
Comment:
Trade closed: stop reached:
Updating and closing out old ideas. It was invalidated.
