Bitcoin fell out from the rising wedge and is now in a ABC bear flag correction phase targeting the 21 weekly Moving Average which also correlates with the 0.382 Fibonacci from the greater move Corona crash till ATH).
The B would also fill the CME gap and if you draw a Fibonacci extension from ATH to A the Golden pocket marks the CME gap perfectly.
Expecting a pullback to ~57.5k before the next large move up.
This will shake weak longs, prepare shorts for fuel, reset oscillators and waves on higher time frames.
This should set up for the next All Time High
What a nice weekend, bulls break out with good volume and stay strong!
If you're new to the game, check out my previous analysis..BTC Swingtade bulls defend 50k, see link below.
If you're not in a position yet, check out the 60k -60500 range.
My SL is below the breakout level. Btc should no longer be included!
If you're holding alts, be careful, if...
while i was looking at bitcoin earlier this afternoon i noticed a few things that could play a role in the future roadmap.
on the right chart you see the macro view
here I see we could make another huge head n shoulders if it would go down now like RSI, Market Cipher and other indicators tell us
what I also notice is that the logical and symmetrical...
Bitcoin has reached its last resistance, if it manages to close above 57K we will see a new ATH soon, if it is rejected again I think we will see a small correction before going to the new ATH, however the daily chart is super bullish so I very confident, good weekend everyone
Bitcoin double tapped the trendline and bounced with strong volume and large candle body. The last time this happened, Bitcoin pumped from 47K to 62K. If we assume a similar rise, we can be looking at $69-70K soon.
Knife Cut signal worked very well with a nice 15% upside.
Bounced from diag 2, and now i expect diag 1 test, that is near 56k.
We can see that the structure is Inverse H&S breakout and retest, that will lead to ath, and maybe even more. Expect anything from bitcoin.
5 Reasons bitcoin will crash 30-50% in next 3-4 Months.
1. Technical Correction monthly RSI is about to get overbought like 2017 peak.
2. Big Stock market crash/scam might affect Crypto.
3. Instability in market due to lawsuits like XRP against the Tether.
4. Government Intervention / CBDC or New Coin.
5. Bitcoin Seasonality March is...
The XBTUSD level we talked about in the previous video has been hit perfectly (feel free to go back and look) and I decided to make a follow-up video on our next move for Bitcoin.
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Took XTZ / BTC into log scale & added more time and we can see what the future holds.
1 thing is for certain BTC will most likely continue to climb into 2021 and any dips & pull back will not be a bear market.
So we can assume that we r in a full blown bull market now since May 2020 IMO.
The question is where does BTC top. Most analysis I respect point to a...