BitcoinLong
Bitcoin: 2 weeks until the Equilibrium Break
Bitcoin has been in consolidation mode since our ATH and the lowest dip to 6k that followed. I am anticipating a rough next 10 days where we dip to somewhere in the neighborhood of 7k to form a higher low, followed by a sharp bounce back up to the resistance of the pennant. With some follow-through buy volume I think we will see 3-4 long green daily candles that will take us to the lower high resistance of 11.5k, a retest of the 10k for some consolidation before the real break towards 16k (or 100% increase from the BTC price today).
Call it inverse head-and-shoulders, cup-and-handle or the fabled reverse-cowgirl. But by any name, I think we’re in for a hell of a ride for the remainder of May and into June.
- Peace -
Call it inverse head-and-shoulders, cup-and-handle or the fabled reverse-cowgirl. But by any name, I think we’re in for a hell of a ride for the remainder of May and into June.
- Peace -
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.