BTC/USD - Long to 12K - 65.52% Profit Potential!

Hello Future Millionaires!

BTC has an incredibly high correlation with SPY on the monthly time frame.

Seeing as how SPY just broke out, coupled with some bullish technicals, I suspect BTC will follow before long!

-Massive hidden bullish divergence on the smaller time frames (12H and smaller)

-The last four tests down to the 11K zone were all bought up pretty quickly

-Currently sitting on top of support and may be printing a higher low

-May soon be closing above the 4H 21EMA

-Closing 4H above 11.2K support

However, if price breaks down from here, we are likely to see another retest down to the 11K zone. If this test is bought up quickly, then things will be looking bullish and we could see some nice continuation!

If a test down is not bought up quickly and we close below the support line at 10892.0, then I'll be looking for continuation down to the 10.5K area.

Please take a second to smash the like and follow us for regular crypto technical analysis! May the force be with you!

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Guide to My Charts
-The horizontal purple boxes of peace and prosperity are support/resistance 'zones'. If price pierces through one side, then it is likely to head toward the next support/resistance zone or line.

-The purple lines are support/resistance lines.

-Yellow lines are typically used to chart out pattern formations on the daily and higher time frames. Skinnier red lines may are typically smaller time frame trends (like 4H and 1H).

-The colored lines are MAs (Red: 10 simple, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Grey: 200EMA, White: 200SMA, Maroon: 377EMA.

-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.

-The Historical Volatility Percentile (HVP), RSI, and/or stochastics indicators are below the chart if displayed.


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Entry: 11230.0
Entry Zone: 11080-11350

T1: 11420
T2: 11535
T3: 11725
T4: 11900
T5: 12000
T6: 12150.0

Stop: 10927.5

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R:R: 3.04
Risk: 2.69%
Reward: 8.19%
Leverage: 8X
Leveraged Risk: 21.52%
Leveraged Reward: 65.52%


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Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my trade ideas and are intended for educational purposes only.

Comment:

Hidden Bullish Divergence: Price making 'marginally' higher highs and RSI making 'dramatically' lower lows.

Comment:

Price is ranging in this triangle for now. Looking like we'll see a resolution within the next few hours or so:

Comment:

Well, just as we stated was possible, we did break down from support and tested 11K, but we were never stopped out!

T1: 11420 - HIT!!! (13.53% Gain)

Comment:

Enjoy! Follow us now for regular high probability, low risk, technical analysis! 3rd Eye Trading is going to be charting the most bullish cryptos thorough this entire bull run! Life changing opportunities, there is!

T1: 11420 - HIT!!! (13.53% Gain)
T2: 11535 - HIT!!! (21.73% Gain)
T3: 11725 - HIT!!! (35.26% Gain)

Comment:

Thanking the cryptosphere for all the abundance! Let's get this crypto!

Follow us to see regular TA on the hottest and most profitable cryptos in the space!

T1: 11420 - HIT!!! (13.53% Gain)
T2: 11535 - HIT!!! (21.73% Gain)
T3: 11725 - HIT!!! (35.26% Gain)
T4: 11900 - HIT!!! (47.73% Gain)