We have finally reached the end of this descending wedge, suggesting a bullish breakout.
The price position in the bottom resistance towards the end of the triangle suggests breakout through top at end of wedge.
Daily candle today is flashing a Buy Signal.
RSI trendline is almost ready to be broken.
Fisher Transform flip to bullish occurred.
Bullish confirmation on Filter Dots coming momentarily.
Based on the pattern, by mid December we should stay above $7k forever. Yes, forever.
Bottom log trend line being broken would be a first in over 10 years.
For this reason, I don't feel we go below $7k ever again after December at latest.
I think that once we see a pullback in the SP500 and other overbought markets, this will drive cash flow to BTC.
Money doesn't like to sit still, banks have zero interest, stock market will be correcting, and riskier assets like BTC look more attractive.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.
The price position in the bottom resistance towards the end of the triangle suggests breakout through top at end of wedge.
Daily candle today is flashing a Buy Signal.
RSI trendline is almost ready to be broken.
Fisher Transform flip to bullish occurred.
Bullish confirmation on Filter Dots coming momentarily.
Based on the pattern, by mid December we should stay above $7k forever. Yes, forever.
Bottom log trend line being broken would be a first in over 10 years.
For this reason, I don't feel we go below $7k ever again after December at latest.
I think that once we see a pullback in the SP500 and other overbought markets, this will drive cash flow to BTC.
Money doesn't like to sit still, banks have zero interest, stock market will be correcting, and riskier assets like BTC look more attractive.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.