To all my haters who are as jealous of my hair as they are of my TA....how do you like them apples.
See my other publications for more detailed analysis how we got to this place...BTC has pattern target to 4.5k based on the symmetrical triangle (25% profits should be taken if we get there).
To my followers who bought with me at 3.2k-3.3k. It's time to move 50% of our positions stop loss just inside the triangle at 3,770. The other 50% hold at break even levels.
Cheers,
Bobby
See my other publications for more detailed analysis how we got to this place...BTC has pattern target to 4.5k based on the symmetrical triangle (25% profits should be taken if we get there).
To my followers who bought with me at 3.2k-3.3k. It's time to move 50% of our positions stop loss just inside the triangle at 3,770. The other 50% hold at break even levels.
Cheers,
Bobby
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These bears think they are in control and us Bulls have been too cocky. They have the reality skewed. They've enjoyed a full 2018 breaking btc price down with 100x leverage. They have gotten too cocky. Just like the Bulls had their days in 2017. 2019 will be the flippening. The year bulls take back what's rightfully ours. Each week we are confirming the bottom has took place at 3.1k. Is it 100%, no. But we closed off the week well. Capitulation happened from 6k to 3k. There will be range trading. Possibly days or weaks that look like the bears are winning. But this is what the accumulation phase looks like. We are about to go on full attack.
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This is the 200 Week Moving Average. And people wonder how I came up with this target back on Sep 20th. Now you know. This is the most important MA we bulls have. Below this would not be good. This is why we will defend this territory at all costs.
Comment:
Many people are saying the bitcoin price is about to see a huge correction. I see a bull flag. Ideally we hold the lower trend line which is sitting at 3,850 on the current candle. We continue to gradually move higher on the pennant support. This pattern target ironically takes us to around the 4,250 level which is significant in that it would complete the larger pattern of the inverse H&S.
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Boom 3rd touch in the bull pennant. Could touch a 4th time before we break above to 4,250 levels. a break down below 4,370 in the short term isn't the end of the world, but could signal an invalidation of this pattern if it doesn't quickly close above the support line of the pennant. We would switch from being a bull pennant to more of a bull flag structure.
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bull pennant pattern just broke. now looking like a bull flag. If btc scales back above the pennant support (dotted line) pattern is still valid.
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It would be more bullish to maintain the pennant shape and have btc hold the dotted line. If you're a short term trader it would be best to exit your position if btc sustains a break below the 23.6% fib level and look for next trade setup. We're looking at btc maintaining and then bouncing off the 23.6% level to complete the bear flag pattern. If btc falls back into the symmetrical triangle it's not the end of the world, but could mean more range trading. We'll look for the next trade setup if that happens. Otherwise lets look for a bounce in the next 24 hours to complete this bear flag pattern.
Comment:
I keep saying bear flag above. I mean bull flag.
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This pattern has changed officially to a bull flag now. Still bullish. I fully expect BTC to break out within this pattern the next 24 hours to jump 6-7% towards the pattern target of $4,250. We should jump off the 23.6% Fib level like a trampoline. Again, let's see what happens here. If things go as planned volume will pick up to push beyond 4,250 completing a breakout of the H&S to a pattern target over 5k.
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Going as planned. Now the pattern needs to break through the top of the flag pole and go for our patter target of $4,250. read above why $4,250 is such an important zone.
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rejected at the dotted horizontal line. however, finding support on top of the bull flag. looking good.
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short term EW next 48 hours. I expect a double bounce off the 23.6% Fib level before we test the crucial $4,250.
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BTC moving as projected. no need to be scared..yet.
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Still looking positive. Bulls keep reconfirming 4k as support. Again I do expect us to test the 23.6% Fib level before going higher.
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testing 50 DMA as support now...