Hermsats

Hermsats

Welcome to the 4th quarter. We enter October with bullish on-chain analysis, bullish media, and bullish TA. ENJOY THE RIDE. If, and that’s a big “if”, the pump we saw today helps form the ‘head’ of a head-and-shoulders pattern - I believe that could give BTC the juice to break out of the descending trend present since April/May. At that point, we would look for...

Hermsats

My exact target hit, as price broke out of the broadening wedge and then the triangle. Now we’re experiencing lots of resistance between 47-48.8k. My guess is we’ll need to close multiple 4 hour candles above 50k to flip this into support.

Hermsats

We broke out of a descending, broadening wedge - and then broke up out of the triangle. Bullish. On our way back to 47-48k, if you ask me.

Hermsats

Let’s just pretend for a moment that we don’t know anything about S2F, URPD, illiquid supply ratios, or halving cycles. Is this what institutional buy in and ETF approval looks like? Is this what a super-cycle looks like?

Hermsats

If I had to guess, September finishes out in the red and the first week of October begins our last leg of this bull run.

Hermsats

We just broke triangle resistance! Will the 4 hour close here? Or is this the trap? Leave your thoughts below!

Hermsats

This inverse head and shoulders pattern is impossible to miss. A break through 40k would confirm upward continuation, with the next resistance being near 46k.

Hermsats

Just an idea, but if we see a bounce here, an inverse head and shoulders could play out beautifully.

Hermsats

If Elon timed his tweet to intentionally give us an inverted head and shoulders pattern, I’d be both impressed and grateful.