Doing some really nice profits so far on this one and even though it looks like it could retrace at any time I will hold it for a few weeks longer before taking some profits. Long term this project has a lot of potential!
This inverse head and shoulders looks pretty clean.
Not trading advice.
Bitcoin loves bananas, it is a fact.
Joining the bottom of this cycle with the next parabolic top will set the angle of attack for the next ATH.
I expect somewhere around 15k-17k. The lower this top, the less inclined the parabolic move will be which could mean I longer and slow rise over the period of 3-4 years.
Just something I have been observing for a while :) We passed the last major resistance in blue and retested it and now could easily go to 15500 before that next major resistance. I will put another few things I see on the short term too.
I would say 95% of people see BTC doing a pullback to 3k or 4k range in the coming weeks. I think BTC has some surprises for us! After analysing the price action and fractals of XRP, I have discovered interesting similitudes. This makes me believe we could see very bullish price action in the coming weeks where BTC could go as high as 8k. Time will tell :)
At the moment I'm using moving averages 20-50-200 and Elder's Force Index ( EFI ) and that is working really well for me in Bitcoin and other alts so I thought I would share my observations.
The 20 Weekly Moving average
As you may notice, the 20WMA is quite significant, during the previous bull market it acted as a significant support and has been the main...
This is how I see Bitcoin evolving in the next few months. This analysis is purely based on similarities with the 2014-2015 bear market.
I remember back in June 2018 I saw in a crypto conference a woman (sorry forgot her name) at the head of a managing fund firm mentioning that 6k was unlikely the bottom and that Wall Street would push the price down to 3k to...
Possible scenario in the next coming hours, if you are looking for an entry position don't be greedy. If you are chasing lower targets at least spread your entries in quarters. Good Luck :) This is educational only, I'm not an expert at all.