I've plotted the points where the prices have broken out from every consolidation since the all time low of $3,130.
This showed the behavior and pattern of the price as it moved up the parabolic curve.
And now this humongous pennant (yellow converging lines) needs a huge pennat pole to stand on and I've instinctively measured it proportionate to the size of the pennant.
This pole (pink line) will take us up all the way to $21,100-ish, a new ATH.
I had a conservative view of this Bitcoin Super Bull back in May 2019 and it had passed the $11,650 level which has since retraced and consolidated.
Here's the chart:
But this time, the bull will again have their run in the next couple of weeks.
This rocket is refueling and waiting on more passengers before the next launch.
Always remember to place your stops at the appropriate levels.
Happy Trading Everyone!
Ron
This showed the behavior and pattern of the price as it moved up the parabolic curve.
And now this humongous pennant (yellow converging lines) needs a huge pennat pole to stand on and I've instinctively measured it proportionate to the size of the pennant.
This pole (pink line) will take us up all the way to $21,100-ish, a new ATH.
I had a conservative view of this Bitcoin Super Bull back in May 2019 and it had passed the $11,650 level which has since retraced and consolidated.
Here's the chart:
But this time, the bull will again have their run in the next couple of weeks.
This rocket is refueling and waiting on more passengers before the next launch.
Always remember to place your stops at the appropriate levels.
Happy Trading Everyone!
Ron
Comment:
Here's a 30m short term chart.
Comment:
The Pennant has now transformed into a Falling Wedge.
Accumulation phase is almost complete. Bullish signals are firing now.
Warning! Never dismiss the possibility of a break to the downside.
Warning! Watch out for the FU move.
Best strategy for any scenario:
1. Place a trailing stop loss.
2. Never trade before the breakout!
Happy Trading Everyone.
Ron
Accumulation phase is almost complete. Bullish signals are firing now.
Warning! Never dismiss the possibility of a break to the downside.
Warning! Watch out for the FU move.
Best strategy for any scenario:
1. Place a trailing stop loss.
2. Never trade before the breakout!
Happy Trading Everyone.
Ron
