On the 1-day chart price action is trading near long-term resistance, in case of a breakout the target mentioned above becomes valid(potential top could be a little bit higher or lower, also there are bullish divergencies on the 4-hour chart on multiple indicators)
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Severely oversold on the daily, needs to break 19 cents resistance in order to test the big trendline.
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Bullish divergencies on the 1-week chart on several indicators.
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BB are getting pretty tight on the weekly, could breakout soon.
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The weekly chart against ETH shows some intriguing developments.
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Here is a very simple setup. I do not see the need for anything else, since the trend is still in its early stages in my opinion.
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I corrected it a bit. Note what's happening with the VFI.
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So, basically, it will either happen very soon or not at all. And
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$1 resistance is the neckline on the BTC pair. If it breaks, the pump could be huge.
Trade closed: target reached
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It's done, for now.
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I did not expect it to correct so quickly. Technically speaking, it's extremely bullish.
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Consolidation is a completely normal behavior on such occasions. It needs to break the local resistance at 1725 to validate the reversal.
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Still bullish
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The difference is palpable: there was a trendline back in 2021, with such divergence it was not able to pass it's 2018 consolidation. No trendline now and no divergence. First time ever above the cloud