If this inverted Head and Shoulders plays out as drawn we should break $60K very soon. If you feel risky you could go long at the bottom of the right shoulder with a stop a few dollars down and if you are more conservative you could go long at the break of $60K with a stop just under your entry. (or whatever are your stop tolerances)
The first profit target...
Here is a 3 Day Channel that goes all the way back to 2018.
If we break out of the top of the channel like in 2018 I will hold until a top forms and then sell some before the next bear market. If we go to the bottom of the channel I will buy and then hold as we go to the top or out of the top of the channel again. If we break the bottom of the channel I will...
I'm just posting this weekly chart for future reference. I created a long term moving average channel that tracks very nicely the last bottom as well as the past tops. The idea would be to prepare to take profits between the upper red and white boundaries when volume has spiked indicating a top and to accumulate again between the lower green and white lines when...
Hello my fellow Bitcoinistas!
Well I did it. I created my first and only Bitcoin NFT on Rarible.com
If you want to see my future prediction of where the Bitcoin price is headed then check out rarible.com
Triangles are typically made of many 3 wave patterns. As you can see this ascending triangle is full of them. Ignore the ABC tool I used to draw the waves. You can say 123, ABC, whatever. The point is you know it's a valid triangle if it consists of multiple 3 wave moves.
At any rate, if this is correct a break North would have a target of 60K minimum. Next...
Typically the ascending triangle breaks North. This one, however, was formed on a down trend so it could either be a continuation or a reversal. I'm betting reversal for now.
If you like playing the breaks you could go long on the break of the top of the triangle with a stop just inside the triangle and do the exact opposite if it breaks out the bottom. Either...
Hello my fellow Bitcoinistas!
Nothing special today. Just sitting back watching my hodl stack grow! According to Metcalf's Law Bitcoin is WAY UNDERVALUED according to the size of the Bitcoin Network and the price is currently trying to catch up IMO. Some are talking $100K to $300K minimum by the end of the year and that is totally possible IMO. Supply is...
Every BTC purchase I have ever made and held since 2013, including all recent purchases over $40K are in profit.
Just saying for any bears and naysayers out there that still say hodling doesn't work.
What's the point in posting a pattern AFTER it has already happened? Anybody can do that. I like to try to guess what may be playing out BEFORE it confirms.
If this is correct, this little inverted Head and Shoulders may be the boost we need to get over $50K
It appears that Bitcoin has formed another Bull Flag and is in the process of breaking out of it to the upside. Of course when confirmed with a higher price and higher volume there will be no doubt.
I'm still long and added a few more Satoshi just under $30K, around $34.6 and my last buy around $44.5
Am I done? Probably not. Where else am I going to put my...
Bitcoin has clearly broken out of this Bull Flag and if the close on 1/31/2021 stays above the flag the price should continue North. There are a lot of opinions out there with all that is going on but I'm sticking to my faith in where Bitcoin is ultimately going. Since Michelle Saylor thinks the same way I believe I am in good company.
This next coming week...
It looks like we may have bottomed out on this correction. If we continue North out of the larger Flag, Triangle, Wedge, etc. then it will be confirmed. Glad I added a little more under $30K :)
Earlier I posted the obvious Head and Shoulders and said it may be a bear trap. Now it looks like we have a triangle breakout to the North. If it keeps going this week will be very interesting and profitable!