elfavorito

elfavorito

You are going to wish you bought when this idea was published

elfavorito Updated 

We are at a very critical point. The 7 month old trendline (RED) with 10+ contacts, is colliding with the 1 month old trendline (YELLOW) with 5+ contacts. Due to Bitcoin having already dropped ~45% from it's highest high so far after hopping over the 200 DMA in March 2019, I believe it's time for BTC to continue the makenings of what is going to be the...

elfavorito

Looks like BTC might be in the process of forming a bullish pennant. The pole was the move from $7500 to $10600, which bounced off the 50% fib retracement of the trend from $14k down to $7300. If this forms into a bullish pennant and we make the second move to the upside, it you should take us to the $12500 area, which coincides with the 78,6% fib retracement...

elfavorito Updated 

Seems like BTCUSD chart might be playing out a classic bull flag pattern. If this plays out nicely, we are looking at a continuation of the uptrend to around the $8600 level.