After hitting a new ATH, BTC is now having a breather, plotting a cup and handle pattern.
I expect it could consolidate as far as 51k area to complete handle, before lifting off towards 85k target, and ultimately 100k+ by end of year!
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One of the key things I trust in my trading and advocate to others is to wait patiently for a candlestick to close to confirm a break of a certain level. Before...
Analysis Process Notes:
1. Scaled chart to 989.585504. Looked nice on the weekly
2. Used Price Angle & Gann Star By Se7s - V2 to calculate
the initial range. Spacing set to 100 000.
3. Drew a Gann Square FIXED. From 0 to $400,185.48
4. Drew 2 quarter Gann squares on top of the initial square
5. Drew 4 Gann squares on top of the 2 quarter Gann squares
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No matter what sort of analyses you do, most of them are targeting the $70K to $80K area for the top of the BTC bull market.
- Crypto YouTubers are calling for a $100K BTC top (that means it probably will not reach that level) BEARISH
- The excitement is around and everyone thinks they are a genius. (One of my customers bought 1 BTC at $35K, I said...
We had a fantastic bounce from $40k at the 100 day (see related idea below) and we've been running up ever since. The ATH resistance was to be predicted. I believe if we run up off this level well again attack ATH. If we fall here, expect a bit of consolidation before another attack at ATH. I expect a run up.
Obviously this is a bull run and the smart ones bought below $60k.
Like one my of friend always say "It's only in the financial market that an instrument sells at a discount and most persons avoid buying it".
Is this the discount for BTC? Well, let the market answer that by the end of this week.
NB: Daily, Weekly and Monthly charts are super bullish.
And yes I am the only person who believes this final leg of the bull market is a fakeout.
Plenty of stuff on the screen.
A huge upsloping parallel channel with 4 touchpoints already. So it's a valid channel. 20k top 4 years ago. 3k bottom in 2019. 4k bottom for march 2020 covid crash. 65k top for our top a few months back.
A downsloping resistance from...
Friday, 22 October 2021
5:55 AM (WIB)
There's still have probability about 50%:50% between the price move up or down. If the "Big Bears" can breaks down the support channel, Sure the price will may suddenly fall into $56.700. I'm still watching the price movement until now. But also found great support for this ascending channel as seen on the chart at...
very possible to reach the dynamic red line again by the harmonic pattern
also decreasing in momentum can lead the price to stop from growing more and start the downtrend....
psychologically too, price is ready to surprise every retails by bearish movement
big move up here?
this might go down as the most volatile move or gap in market history?
or its just gonna drop from here into the square's time cycle before another rally... a slight move up will drive home the wyckoff setup but a gap into the hundreds of thousands will be what im thinking might just happen here and it makes sense if we're going to a million...
BTC price is holding above a very clear line of support. If it breaks this support, then BTC will come down to test 58k and then 53k lines of support.
IMO we will have upside price action in the next few days that will break ATH and set new ATH at 84k (1.618 Fib extension). It is possible that we have resistance at 74k, but we have yet to get there!