Hello,
here are my thoughts why I think BTC goes up from here at least $8k and from there I keep You updated!
Reasons/Criteria's on the same price level:
1. BTC completes "healthy" correction to make this "Double Bottom" trade as a textbook example (breakout formed "Double Bottom" & BUY when price retest breakout level, yes it took a little bit longer than expected)
2. Retest area is exactly in the round number area $7500
3. In the round number area, we saw in 4h chart formed "Railroad Tracks" candlestick pattern & in daily chart formed sloppy "Hammer" pattern
4. At this price level, we get 4. bounce from bottom trendline of the "Falling Wedge" continuation pattern
5. Al those criteria's matching with a decent Fibonacci area which is 70.5%-78% retracement
6. PLUS if we think BTC follows SPY (SP500) chart almost identically (SPY started its uptrend beginning of the May) then NOW it's time to follow this rally! :)
Please leave a comment, share this post if You like this & obviously give a LIKE ;)
All the best!
here are my thoughts why I think BTC goes up from here at least $8k and from there I keep You updated!
Reasons/Criteria's on the same price level:
1. BTC completes "healthy" correction to make this "Double Bottom" trade as a textbook example (breakout formed "Double Bottom" & BUY when price retest breakout level, yes it took a little bit longer than expected)
2. Retest area is exactly in the round number area $7500
3. In the round number area, we saw in 4h chart formed "Railroad Tracks" candlestick pattern & in daily chart formed sloppy "Hammer" pattern
4. At this price level, we get 4. bounce from bottom trendline of the "Falling Wedge" continuation pattern
5. Al those criteria's matching with a decent Fibonacci area which is 70.5%-78% retracement
6. PLUS if we think BTC follows SPY (SP500) chart almost identically (SPY started its uptrend beginning of the May) then NOW it's time to follow this rally! :)
Please leave a comment, share this post if You like this & obviously give a LIKE ;)
All the best!
Comment:
Was this a bear trap?!
Looks like we have some momentum after we break out from bear flag after that quickly back up! Usually, this is a good sign!
Looks like we have some momentum after we break out from bear flag after that quickly back up! Usually, this is a good sign!
Inverted Head & Shoulders
ehh...but, but this is so rear!!