If you missed the bus on this one and didn't get in WHEN I TOLD YOU TO, pretty clearly, on Saturday (see post referenced below), then you are going to have to wait for price to pull back to the 21 weekly EMA, which I suspect will happen some time in mid to late March and at around 10.3k. You can see that the previous bull trend pulled back and found support on that EMA every time, as did the bull trend before that.
As I stated in my post on Saturday, I believe we are entering wave 3 of a strong 5-wave uptrend, and I think our next higher-time-frame bivouac will be where the big triangle we're in intersects with the strong resistance line at around 11,700, which will form the top the of the 3rd wave. (But yes - on the way up there, there will be smaller pullbacks that play out on smaller time frames like 4hr and maybe up to 12 hr or even daily, which is why it's dangerous to FOMO into this one.) But I believe our BIG pullback will be at around 11,700.
Could I be wrong?
NO WAY
Jk...
Of course. It's Bitcoin so anything could happen. It could turn around right here and dump back to 8500. Unlikely - but possible. I am just stating what technical analysis is showing what it most likely to happen over the next few months.
Also - at some point soon the lower timeframe oscillators will be showing huge bearish divergences and will need to cool off and let those play out, at which time I'd expect the price to pull back anywhere from $100 to $300. If you're less conservative and willing to take on more risk, you could get in on one of those smaller time-frame pullbacks.
Cheers and happy trading.
As I stated in my post on Saturday, I believe we are entering wave 3 of a strong 5-wave uptrend, and I think our next higher-time-frame bivouac will be where the big triangle we're in intersects with the strong resistance line at around 11,700, which will form the top the of the 3rd wave. (But yes - on the way up there, there will be smaller pullbacks that play out on smaller time frames like 4hr and maybe up to 12 hr or even daily, which is why it's dangerous to FOMO into this one.) But I believe our BIG pullback will be at around 11,700.
Could I be wrong?
NO WAY
Jk...
Of course. It's Bitcoin so anything could happen. It could turn around right here and dump back to 8500. Unlikely - but possible. I am just stating what technical analysis is showing what it most likely to happen over the next few months.
Also - at some point soon the lower timeframe oscillators will be showing huge bearish divergences and will need to cool off and let those play out, at which time I'd expect the price to pull back anywhere from $100 to $300. If you're less conservative and willing to take on more risk, you could get in on one of those smaller time-frame pullbacks.
Cheers and happy trading.
