This action is too good NOT to discuss, but I will keep it short. I think the party is about to end on this mini-pump. I've been waiting for a return to the top of the trading channel for quite some time, and here we have it.
From the looks of it, there could be a double pump move where we hit the top of the parallel trading channel right where the new Light Gray fib circle set (based on the time period beginning on October 25th to November 25th) 4.236 ring intersects it. Notice how the stochastic fell back below the 80% oversold level but quickly recovered as the price pumped again, forming a double camel hump. Even though it looks like the momentum is pointed back down, it could reverse for a third hump (it would make the world's first triple-hump camel).
Something else I might point out is the similarity of this mini pump to the one that occurred right on October the 25th. Do you see how the wick of the green candle got rejected right at the upper parallel trading channel boundary line? Do you also see that the wick got rejected on today's pump as well? Maybe it's a meaningless coincidence. And of course, past performance does not dictate future action. Especially with Bitcoin. But that was worth mentioning.
I am not going to be convinced that ANY of this movement is truly bullish until we break the top of that trading channel. Let me correct myself... break and SUSTAIN itself above the channel. We are still in the midst of an overall bearish trend, and I don't see an end in sight. Wait... there is a possible end that I do see. It's the BIG BLUE 3.618 fib circle boundary. If the correction takes us down to that line, I'll be placing my bets that we hit the overall bottom before the next bull run. Other than that, anything is possible. $5400 could be the bottom. So could $7200. It is slightly possible that we just shoot straight to $1,000,000 from here, and not look back. But the highest probability, in my opinion? Floating back down to that BIG BLUE 3.618.
I'm not betting on anything until BTC proves me wrong. Video coming soon, because I'm a couple of months late on my promise. But I will get it done, and we'll talk more!
Carlton Flowers
The CryptoPro
From the looks of it, there could be a double pump move where we hit the top of the parallel trading channel right where the new Light Gray fib circle set (based on the time period beginning on October 25th to November 25th) 4.236 ring intersects it. Notice how the stochastic fell back below the 80% oversold level but quickly recovered as the price pumped again, forming a double camel hump. Even though it looks like the momentum is pointed back down, it could reverse for a third hump (it would make the world's first triple-hump camel).
Something else I might point out is the similarity of this mini pump to the one that occurred right on October the 25th. Do you see how the wick of the green candle got rejected right at the upper parallel trading channel boundary line? Do you also see that the wick got rejected on today's pump as well? Maybe it's a meaningless coincidence. And of course, past performance does not dictate future action. Especially with Bitcoin. But that was worth mentioning.
I am not going to be convinced that ANY of this movement is truly bullish until we break the top of that trading channel. Let me correct myself... break and SUSTAIN itself above the channel. We are still in the midst of an overall bearish trend, and I don't see an end in sight. Wait... there is a possible end that I do see. It's the BIG BLUE 3.618 fib circle boundary. If the correction takes us down to that line, I'll be placing my bets that we hit the overall bottom before the next bull run. Other than that, anything is possible. $5400 could be the bottom. So could $7200. It is slightly possible that we just shoot straight to $1,000,000 from here, and not look back. But the highest probability, in my opinion? Floating back down to that BIG BLUE 3.618.
I'm not betting on anything until BTC proves me wrong. Video coming soon, because I'm a couple of months late on my promise. But I will get it done, and we'll talk more!
Carlton Flowers
The CryptoPro