I've mentioned this inverted for some time. It's true that the time frame isn't the largest, but there's a possibility of momentum around the next CBOE maturity date (which coincides with the Chinese NY).
I explained this in an YouTube video I posted this morning, but those are just the details. The main takeaway is
- Neckline 9k
- Breakout around Chinese NY
- Rally to $12k by Mar
- $12k is 0.5 fibo from ATH
Above 9.5k would be certainly a breakout.
If breakout is confirmed, a rally could be very fast b/c CBOE.
perhaps a retest of the ascending triangle may be forthcoming.
Right now small correction. I expect 9.5 to be a support. Can't see it going under (or too close to) 9k.
I think the problem is that people think once it's not bearish 20k can be reached in a week. More likely it'll take months with lots of ups & downs