This cycle is mirroring the 2016-17 run pretty eerily.
If peak to peak is measured (1640 ish bars) we could hit this target EOY.
** Be mindful and greedy if chart decides to try and connect with the 21 weekly EMA, which it did time and time again in the prior bull market.** No one wants to think about it but it makes sense from a TA perspective. RSI is...
With the double bottom W able to break up and form new higher highs it seems the ABC correction "could be over" (highly probable it is not).
Catalysts could be PAYPAL earnings today AMC and the Microstrategy CEO summit on Bitcoin could propel this much higher.
Above is my mid term targets if this rally sees a continuation to the upside. Its hard to bet against...
Could still see a drop to 25K if the triangle breaks but for now the bulls have held strong.
Bullish hidden divergence on the 4hr.
Volume analysis is bullish.
50k target. If that breaks on volume next stop is 63k.
Happy trading all
Taking the wicks out of the equation you can see we punched through the 1.618 fib extension. Unless regulatory noise/FUD are used to liquidate longs (possibility very real) I dont see a reasonable pull back until 30k. A 30-40% drop would be healthy after this is hit as MAs are so far below on a weekly timeframe.
Keep your eye on a pull back to the MA20 on the...
Still could see huge capitulation as wave C of the correction seems negated but not out of play.
- BTC closed its July monthly candle higher than any other close besides the blow off top at 20k area.
- Volume was good
- REKT city drop was a manipulated long squeeze due to moon boy leverage.
- TD 5 on the monthly (not the best TF but still the first in a...