CFcryptoTA

BTC update 3

Long
BITSTAMP:BTCUSD   Bitcoin
HnS playing beautifully, as expected. The 39k mark has been touched. It was the target from a month ago, so nothing unexpected. BTC is going to retest the broken support turned resistance, the neckline to then possibly do one last dip, touching maybe the 38k. I entered in the wick at 40k, and I plan to load on any of the next dips. Volume and candles are screaming at the bottom, similarly to July 21. As I updated you yesterday, you can appreciate that BTC will trade in the descending wedge to break the pattern to the beginning of October. The risk-reward ratio here is great, so I am happy at this level, and I will load up my guns.
The dominance indicates possible further strength in BTC with uncertainty in the market.
As highlighted in the chart, we had a hammer with an extremely long weak checking for liquidity with great volume. Consequently, another dip stops hunting by whales, followed by demand plugging and great volume on an equal-sized candle with a higher open.
I see a small probability that BTC will push for a fakeout at 37500 with a selling climax to start an explosive move up.
RSI on the daily still need to steam completely out, and also the Stoch RSI on the weekly, then is the fly mode. As I said, for me, this is the bottom. The next stop is 100k, so enjoy the ride and fasten your seatbelt. From October ahead, it will be fun.
I am planning to do a video in the upcoming days. Stay tuned...FOLLOW ME, SHARE, LIKE AND COMMENT.

CFcryptoTA
check the youtube channel out
youtube.com/channel/UC1nxHmfbU0pyoX7Bp-ayDuA

Telegram channel for 1 to 1 chat: t.me/TAEW4
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.