3 possible scenarios for bitcoin
A = Ascending triangle and continue - too easy
B = Bullflag to washout inexperienced traders - possible
C = Potential bullflag becomes a descending triangle, play with the inexperienced traders, bearish cycle resumes - seen this all before
Best to wait for a break of the ATH and ride the trend if we go higher, it's been to easy up to now, allot of inexperienced newbies made some money and now it's time to give some of it back.
A = Ascending triangle and continue - too easy
B = Bullflag to washout inexperienced traders - possible
C = Potential bullflag becomes a descending triangle, play with the inexperienced traders, bearish cycle resumes - seen this all before
Best to wait for a break of the ATH and ride the trend if we go higher, it's been to easy up to now, allot of inexperienced newbies made some money and now it's time to give some of it back.
Comment:
Scenario A: Daily and 12 hour still making higher lows if we close above 34k, close below 34k will break structure of the ascending triangle.
Comment:
Looks like A is out of play on this next 12 hour close in 20mins, leaving us B and C..
Comment:
Scenario C looks most likely now, need to see a break of the upper descending triangle trend line to invalidate, targets down to 20K implied.
Comment:
Scenario D also possible with a bullish falling wedge
Comment:
Scenario D won in the end :)
