Closed above wedge and ATH on the 4 hour. Next up 65k, but first look for a retest of the top of the wedge and maybe previous ATH before bouncing up and never seeing 58k again.
Watching for a break below trend line where it would complete M pattern. Next support would be 52k.
Lookin for a retest of the bottom trend line around 56k before skyrocketing to new ATH. We got rejected right before ATH and broke down past VWAP. Now testing EMA 20. Could bounce here but probably due for a sell candle. Big picture, breakdown below 54k and we could have seen a double top bringing us down to further correction territory.
Looking to break through the red line resistance levels with 4 hour minimum closes (daily preferred). Strong volume with the candle closes would give me a price target of 68k. Still in this upward channel.
We got the confirmation we needed to make a strong push back towards ATH. 1. Volume 2. Bounce off of previous wedge 3. Strong break through 52k area of resistance. Bears beware.
We are about to be at the 52k level that has been the roadblock to new ATH. Finished a W pattern and broke out of downward trend. Big volume on green candle past 52k and I’m all in 😈
All signs point to up with the inverse HnS looking like it will break after it almost held its close past the neckline earlier. This has been trading strong against the entire market. Also bounced ncileg off of long trend line.
IF we get a close above this wedge we are on our way up to the 52k level again. a quick 5-10x leverage play here would be big money IMO. Stop would be good around 48500. This could be the last time we see bitcoin under 50k...
Michael Saylor bought the top of the wedge on a fake out breakout. He doesnt care though because he is dollar cost averaging. For us traders, confirmation is more important before entering a position. Still on track for the 46000 area as we consolidate lower. Looking for a break up or down within the next day. There is a lot of reason to believe this will be...
looks like we are forming the similar bull flag pattern in the channel we are in.
Macro view (daily/weekly): still bullish for a new ATH in the next couple of weeks. Micro View: bears are putting up a good fight to push us down under 50k Again. This trend line is holding us upward but if it breaks I expect a drop to 47500, then 44k, then 40-42k.
Close on the hour and 4 hour above this wedge and we should be making a strong move to 56-57k. That will be the final test before new ATH or fake out double top and back down we go. Too much good news to support new highs!
50k is a key level to hold for us to move back up to 56k level. Break here and we retest 48k again. Break 48k and I like our chances to dip back down to 42k level. I am still long here.
short term short target 46500. this should still hold strong for bulls if we get a bounce out of wedge.
Just an observation from previous patterns similar to what we are seeing now on the 1 hr view...let me know your thoughts :)
Looking for a bounce here to confirm new upward channel on the hour chart. RSI is resetting and if we can get some volume from Asia this could be the wave to 52k that we need to break out to 56k.
2 more reasons to be bullish on a turn around. triple bottom and W formation visible plus we broke out of wedge and bouncing. Micro strategy purchased more bitcoin. You should too..IMO...not financial advice... :)
1. Bounce off of previous resistance at top of wedge...check 2. more volume 3. RSI reset 4. Push through yellow fib line