BonerFormation

BonerFormation

Wedges on the 4 Hour BTCUSD Charts Everywhere. Falling or Rising. Check out the post. Let me know what you think about the chart. Are you bullish or bearish? Short term? Medium Term? Long Term?

BonerFormation

Short term bearish to 50k. Then bullish for a 60% move up to 78k.

BonerFormation

Supported by the difficulty ribbons, stock to flow, smart money flowing in, supply shock on chain right now, and the rising wedge on the macro price from 10k to 65k (pointing to 200k).

BonerFormation

Supporting by difficulty ribbons, hodl waves, cup and handle target, stock to flow model, and prior cycle comparison.

BonerFormation

TA pointing to 78k with the cup and handle playing out. Some smaller time frame targets of 71-74k with the breakout of the rising wedge. Bitcoin mining difficulty ribbons, HODL waves, prior cycle comparison, and stock to flow models are all screaming higher highs to come.

BonerFormation

Check out the smart money rolling in! Check out the mining difficulty ribbon! Check out the stock to flow. Check out the prior cycle comparison. This is getting super bullish. The funding rate dried up so we have upside potential.

BonerFormation

Let me know what you guys think! Falling wedge has been 100% this year on the 4 hour. 100% of the breakout side met and 100% of the price target met. Same goes for falling wedges. In this case, target upside is $62-64k from the flag pole and bull flag that this particular falling wedge is inside.

BonerFormation

What we see from on chain data and TA is that the area around $45k should offer decent support. We are just now entering peak accumulation and this can last 6-12 weeks if it matches historical performance before breaching new all time highs. Price action typically responds strongly with peak accumulation. Fundamentals are still very strong. China mining is now...

BonerFormation Updated 

RSI and price both in potential rising wedge. With a retest of the breakout zone, we could be looking at a short term drop. If that support holds, we could be looking at a continuation to the upside. The bold white arrows are only a representation of what a breakout would look like if it were similar to the breakdown from the rising wedge that peaked at $64k.