In my most recent BTC analysis I talked about Bitcoin's pending break out of the bull-flag pattern on the chart.
As of today, my initial entry has been hit and the top resistance has been retested as support. This makes me believe that the break out is legit and that a new leg up is on the horizon.
My target remains at 80k, although I wouldn't be surprised if we surpass that.
For the people who missed my last entry, I put a new signal on the chart at the right side. Keep in mind that this is a very tight trade. However, if it plays out it can be a good money maker with an RR of over 7.
Good attempt but it failed, would be nice if you could update it.
joelylun
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false breakout unfortunately, but hopefully what followed was a false breakdown
bas20230503
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I long too!
MyCryptoParadise_Nathan
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Fantastic insight! Your analysis really opened my eyes to a new perspective.
vseasalt
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I'm a bit wary of a possible sell the news event around the halving, but yeah this bodes well for at least a run up into it.
FieryTrading
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@vseasalt, Seeing the massive run-up we got before the halving, there's a decent probability for a sell-off, agreed.
CryptoTitans1
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why altcoins don't go up?
FieryTrading
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@CryptoTitans1, difficult to give an exact reason, but money circulates between BTC and alts. During the start of the new bull-cycle BTC tends to outperform alts.