Chart Idea - BTC.D

Updated

BTC.D is in rising wedge since Nov 2022. It's getting closer to the apex area. 82% rising wedges break towards downside. It seems that BTC will chop around in this after halving period, takes liquidity from both sides, and then will have a parabolic move by Aug-Sept 2024. Once BTC.D reaches the reversal zone range of 56-58%, it should break this rising wedge if not before. It's TP should be 45.7% which is a 0.618 fib level. ALTS should rally hard in the Q4 2024 if this TA works out.

Note

This chart is still valid. It could take weeks to break this rising wedge, but when it does, ALTS will rally crazy. I believe it will happen sometime when BTC will hit it's new ATH sometime in late summer if not early.

Trade active

Rising wedge already broken on weekly TF in the third week of May. ALTS will go crazy as soon as BTC hit its next ATH. Super bullish for alts for next 4-5 months of this year.

Note

I am super bullish for ALTS. Yes, they are bleeding like crazy rn but the upside is huge for 6-8 weeks.

Note

Beautifully broken and retested. Waiting for it to fall on weekly so ALTS could run.

Note

ALTS won't run until this bad boy goes down. It's resisting as it always does. Very adamant. 1 and half years of upward movement. ALTS will go crazy when the time comes which is really close. You won't even get any time to take good positions on ALTS. This is the time to accumulate the quality projects for 1 year. Thank me later!

Note

How much BTC.D will resist. It's time for BTC to hit ATH and let the ALTS run. Keep an eye on this chart if you want to make money in ALTS. Keep accumulating at the best ALTS prices while you can. Market won't give you this chance again in this bull run.

smwajeeh

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.