mohammadali881

mohammadali881

as far as we are closing below the trading range i expect a break out and a pullback as shown then move to test the prior low and even slightly lower and make a double bottom and increasing BTC dominance by then which i expect to be early march we will be hearing about FED and start tapering and maybe entering a bear market but for now seat back relax and enjoy...

mohammadali881

channel in channel I'm expecting total market cap of almost 4 trillion dollars for this market cycle

mohammadali881 Updated 

once we break we could expect +60% move

mohammadali881

so as we can see we bounced from bottom of the channel (its Log scaled) and we are headed to test previous all time high which is coincide by R1 line off CPR which is a leading indicator once we find support along the mid line of the channel we are gonna test next fibo level things are pretty crazy for BTC this month be careful if your using high leverage

mohammadali881

so we can see a clear break out from the ascending triangle we most probably see an upward movement toward the R3 line and you can see its coincide with fibo extension level which will be a strong resistance

mohammadali881

we cant expect any significant move until the trend line in broken and then with a volume confirmation we might see a move to the midline of the channel to 1 fibo level

mohammadali881

so we see a wave followed by a bullish pennant which is a continuation pattern and we hit our Fibonacci extension level as you see RSI is over bought in weekly and we see a divergence in it so im expecting to see a correction to 1.618 of extension before any continuation to the upside also macd histogram shows that we are losing momentum and it give us a signal

mohammadali881

so we are seeing a break out from symmetrical triangle which is not volume confirmed IMO we most probably might see a pull back to 21EMA and rally after that first target is shown on the chart also after testing ATH we might se a slight pullback too previous resistance which we hope to turn support Good luck

mohammadali881

testing ATH

mohammadali881

based on indicators (MACD Cross + stochastic) most probably we are gonna break the triangle to the up side and there will be a chance of seeing a new all time high lets wait and see buy signal already triggered in lower time frames

mohammadali881

as you can see we are in RSI overbought territory for BTC Dominance which it has already tested the R2 pivot point and couldn't break it and now it will correct to static support line and will give way to alt coins hopefully GOod Luck

mohammadali881

so after a break out we see a retest to descending trend line and now with a candle to the upside we could make sure the break out is confirmed and we most probably will move further to the uper trend line shown on chart good luck

mohammadali881 Updated 

hi there BTC could possibly move down toward the wedge and bounce again because of double support