BTC: First half of October we will know everything!!!
Updated chart, some of the prior TAs were invalidated. (Hey, I know when I'm wrong and I'm not afraid to call myself out).
So we have this bull flag as the break out wave of a larger bear flag trend.
I fully expect 6800 shortly, followed by another smaller consolidation wave down before we break out above 6800. And I have zero doubts we WILL break above 6800 for at LEAST a short period. The question is will gravity such us back to Earth or will we have enough to get to the moon?
And listen... I am NOT one of those people calling for the moon if we do make it out past this flag and don't have a failed breakout. BUT even with a failed breakout, a reverse symmetrical triangle can form meaning we have a strong breakout the weakens but still forms a triangle making lower highs but also higher lows. That isn't out of the picture fully. While we are seeing SOME volume coming in short term, we aren't seeing great volume overall.
If the volume was there, I would be a bit more optimistic.
As it stands, we just look for what we can see right now. Sometimes short term trends break long term trends.
Good luck!
-Z
So we have this bull flag as the break out wave of a larger bear flag trend.
I fully expect 6800 shortly, followed by another smaller consolidation wave down before we break out above 6800. And I have zero doubts we WILL break above 6800 for at LEAST a short period. The question is will gravity such us back to Earth or will we have enough to get to the moon?
And listen... I am NOT one of those people calling for the moon if we do make it out past this flag and don't have a failed breakout. BUT even with a failed breakout, a reverse symmetrical triangle can form meaning we have a strong breakout the weakens but still forms a triangle making lower highs but also higher lows. That isn't out of the picture fully. While we are seeing SOME volume coming in short term, we aren't seeing great volume overall.
If the volume was there, I would be a bit more optimistic.
As it stands, we just look for what we can see right now. Sometimes short term trends break long term trends.
Good luck!
-Z
Comment:
Minor update for price clarity (main chart was a bit sloppy), just wanted to show some prices: