BTC bull run starting around 22nd. Target 25-29k
The idea here is following the recent Wall St bonus news and new money flowing into BTC.
Bonuses are paid on Monday 15th, however paid in cheque which theoretically means a slight delay in the flow of money into the market.
I believe fomo/expectations of a bull run will push us up to the upper side of the pennant, before being rejected by the lower pitchfork quartile / 0.5 fib level before returning to the lower side of the pennant. FUD might cause a slight dip to the lower limit pitchfork line/zone, with support pushing price back up over the 0.236 Fib level and onto the trend-line support.
From here the new money should start to flow into the market, projecting price upward. I think we might see another Kumo twist in the cloud from bearish to bullish, smashing through both the 0.5, 0.618 & 0.786 fib levels / lower pitchfork quartile resistance and upward to the pitchfork median line / 1 Fib level. If successful in breaking this, we can expect to see the 1.618 level being tested with a target of $25,000 - $29,000.
$29k being dependent on breaking the upper quartile pitchfork resistance.
A % gain of approximately 125%, similar to the previous bull run of 127%.
It's worth noting that the time duration of the past two bull runs has been exactly 17d 20h, so I have used this as a basis for our current potential bull run.
Bonuses are paid on Monday 15th, however paid in cheque which theoretically means a slight delay in the flow of money into the market.
I believe fomo/expectations of a bull run will push us up to the upper side of the pennant, before being rejected by the lower pitchfork quartile / 0.5 fib level before returning to the lower side of the pennant. FUD might cause a slight dip to the lower limit pitchfork line/zone, with support pushing price back up over the 0.236 Fib level and onto the trend-line support.
From here the new money should start to flow into the market, projecting price upward. I think we might see another Kumo twist in the cloud from bearish to bullish, smashing through both the 0.5, 0.618 & 0.786 fib levels / lower pitchfork quartile resistance and upward to the pitchfork median line / 1 Fib level. If successful in breaking this, we can expect to see the 1.618 level being tested with a target of $25,000 - $29,000.
$29k being dependent on breaking the upper quartile pitchfork resistance.
A % gain of approximately 125%, similar to the previous bull run of 127%.
It's worth noting that the time duration of the past two bull runs has been exactly 17d 20h, so I have used this as a basis for our current potential bull run.
Trade closed: stop reached