Second highest monthly close ever - Keep it simple
Still could see huge capitulation as wave C of the correction seems negated but not out of play.
Facts:
- 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 while)
Id ideally like to see this test a little lower (box shown) but this monthly close is significant. Lets build the launch pad?
Next target is local high around 14k with a long (1-2 month consolidation) then ATH in November/December as traders chase yield moving into EOY as retail and airlines sink.
Facts:
- 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 while)
Id ideally like to see this test a little lower (box shown) but this monthly close is significant. Lets build the launch pad?
Next target is local high around 14k with a long (1-2 month consolidation) then ATH in November/December as traders chase yield moving into EOY as retail and airlines sink.
Note
Fun when it works out. I was way wrong on retailand airline stocks tho.
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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.