You can either watch this analysis or read it, whatever is best for you.
If we start off with looking at the , most of my colleagues will be pointing to this trendline:
While this is perfectly fine, it is an inaccurate information, just when the doctor would look at one layer only at X-ray. Because if we look at the Weekly chart, we will get a completely different picture:
=> Bitcoin is in a *GIANT* on the Weekly chart! As I'm describing in the video, the pole is perfect, very long, and also the flag is horizontal, which is even stronger than a downward tilted/micro-downtrend .
What does Fibonacci say though?
=> We're perfectly upholding 38,2% retracement since the last bottom: perfectly .
Where can the break-out go?
=> If we project the pole of the current & the body size of the Equilibrium range, we get somewhere between $15-20k. as potential target zone: It is very likely that the bulls will go for All-Time-Highs in this case!
What is the current price action?
=> Does this 4H remind you of something? ;) It is exactly the same price action that we have on the Weekly right now! The only difference is: The bulls are already further on the 4H and have almost broken the to the upside. Gues what the target zone of that breakout will be?
The target zone will be $11,5k: Exactly the tops of the Equilibrium on the Weekly chart.
Conclusion: This is how you can dissect the chart like a Russian Matryoshka, where the 4H is neatlessly flowing over into the Weekly chart! ;) If you wanna learn this stuff, don't hesistate to contact me.
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