Hello TradingView community and my subscribers, please if you like ideas do not forget to support it with your like and comment, thank you so much and we will start.
Today I want talk with you about new ATH of Bitcoin and about exit from triangle.
In my previous idea I wrote about breakout support line of triangle can be a trap and this is happened.
BTC broke support line of triangle, create a short trap and make strong upward impulse and exit upward as we expected.
Now we have 2 scenarios BTC will go to 73.000 with pullback to one of previous ATH at 67.000 or 65.000 or without any pullbacks, just strong upward impulse.
Our target level 73.000 also coincide with possible resistance line (which can be top level of upward channel)
So I still long for BTC, no shorts at this moment.
Always use SL in your trading and proper risk management, this is very important to become a professional trader.
240 shows higher however, 1 month shows price approaching apex for rising wedge. Rising wedge on 1 month goes all the way back to the original rally when price was stable and then exploded. We could be seeing a potentially full crash on btc allowing a reset on price and then an immediate correction for higher price afterwords
@born2bwylde2005, well done. Now that immediate correction would be nice ;)
Update: I just read your TA from Nov 6 on Bitcoin. You believe its crashing 99-100% from here (as I didn't see any higher highs). However in this thread your mentioning an immediate correction for higher prices.... Just curious on your TA and opinions since the 6th of Nov?
born2bwylde2005
⋅
@jmnavarro103, basically it can drop and then bounce back up to create new highs
born2bwylde2005
⋅
@jmnavarro103, been following it, i know the markets are showing instability due to btc im excited to see what it does with the rising wedge tbh usually the back end of the pattern is the key to determine the drop it’s hard to tell with this but im excited to see none the less