Good looking bottom in the process of forming over the next few weeks.
Shorts will start building up now expecting a drop to $2000 which won't materialise and lead to a short squeeze and then a continuation to resistance to $5000.
Expect a sell off from there.
Shorts will start building up now expecting a drop to $2000 which won't materialise and lead to a short squeeze and then a continuation to resistance to $5000.
Expect a sell off from there.
Comment:
Comment:
I'm seeing very small bullish patterns emerging and compounding into potentially larger bullish moves. Are we out of the woods?... not just yet.
The previous calls for Inv H&S were too premature, but this pattern is starting to mature here.
Potential interim diamond bottom on the 4H, may lead to an inverse H&S within an ascending triangle.
I do think bulls will get drawn in here and push up to $4500-$5000, then sell off from there to a potential long term double bottom.
2-4 months of accumulation, then up we go into the next bitcoin halving.
Then everyone would have forgotten all about this nasty little bear!
The previous calls for Inv H&S were too premature, but this pattern is starting to mature here.
Potential interim diamond bottom on the 4H, may lead to an inverse H&S within an ascending triangle.
I do think bulls will get drawn in here and push up to $4500-$5000, then sell off from there to a potential long term double bottom.
2-4 months of accumulation, then up we go into the next bitcoin halving.
Then everyone would have forgotten all about this nasty little bear!
Bullish regular divergence on the 1 Hour which will create the small descending wedge we are in.
Bullish Hidden divergence on the 4Hour which will take us out of the wedge up to test $4000 again.
This is a very strong bottom process in BTC and there won't be a panic sell to lower prices.