INDEX:BTCUSD is looking ready for another big move up. Currently we are squeezing into the tip of a steep ascending wedge of which we failed to break the top of for now. But when we do, its gonna pump hard. Damn these last few months have been exciting to trade! We bounced hard of that macro line (blue), which belonged to a large descending wedge we broke out...
Traders, While I have stated all along that Bitcoin could spike to as high as 55k, though 50-52k is more likely, my target of 48k has been reached and I am choosing to take my profits now. 48k is huge resistance and I will probably not trade again until future direction can be confirmed with a close above 48k and two more candles opening and closing above that...
Attempting to keep my followers up to date on the next Bitcoin move(s). In this video, I want to cover a dozen or so indicators that are giving us clues about what might occur next with old Bitcoin.
2013 v 2021 cycle (2 week chart). Connecting the mid cycle tops on the RSI with a parallel channel shows our current RSI position at the same low as the 2013 mid cycle pullback. Stochastic RSI is also at a similar level.
I think we are in this situation like 2013 mid cycle shakeout. I expect a consolidation (weeks/months) and one more big move in upside