Its a big success for we crypto traders to see BTC breaking away from previous ATH. Well its not yet over as price is currently consolidating above major breakout zone and we should prepare for potential pull back and not be panic when this happen. The chart is well and clearly stated the possibilities.
We have currently monthly candle looking pretty ugly which if closes this way will mostly bring the price down for the potential and healthy correction.
In a short term view, we may still have a last surge towards 36k-38k zone before finally drop, but we must pay very close attention to these zone as any break above it will likely give BULL huge momentum for possible trend continuation.
As market develop, the thread will be updated with fresh ideas.
Kindly go through the chart and leave us your comments with your likes and also follow us for more trading updates.
Thank you.
Note: It will be good to always understand risk involve in trading. Always trade with stop Loss in place.
Set up an entry/exit strategy for every trade, with good risk/reward ratio.
Trade active
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This idea goes together with the pennant view shared some weeks ago.
Quality like always from Weslad !!! Thank you for clear view on the market.
IasEn
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Projected Top is around 700k, bro. Also do not expect to retest previous High in the bear market. So do not expect 20k after 700k
TradingYoda64
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@IasEn, Yeah, maybe 80% drop could happen again. Or not
IasEn
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@panickyLion70080, It is possible to drop 80% from the new ATH, but less likely. I would bet on 60% drop.
LaminarM
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Liked and followed for future updates.
I would be surprised if the 20 weekly MA breaks. So I don't expect a retest of previous ATH at 19600. Anyway, this idea looks possible.
BTCINVESTING
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thx for your post. i agree. same local target. :-) here my current view...
BTCINVESTING
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@btcinvests, shs still possible. what do you think?