BitcoinUpdated This is one of the most bullish things you can see on a chart...
...At least on the timeframe you're examining… What this leads to is an incredible parabolic move, and if that incredible parabolic move doesn't break through and stay above key resistance, collapse is rapid and unforgiving.
If bitcoin can close above 96,000 for the next five days, and not make any more lows below about 92,000, certainly not 91,000, I'll maybe change my mind about it... maybe. What I really need is a clear breakout from the arching-over range on the daily chart and then confirmation of support… That's gonna take more than a day or two or three or four...
The bullish patterns I'm talking about are naturally the bullish engulfing on the daily chart, but what ought to grab your eye is the staircase to heaven, right there in the most recent action on the hourly chart… When you have little blocky candles gently rising up one on top of the other, taking an uninterrupted march from the lower side of the bands to - and through - the upper, still unwavering, unfaltering, unchanging and unconcerned as though affected by nothing... You had better get in before it's too late… And when too late comes, it's really too late, there is no catching it… And you also better be ready to get out before you hit the tippy top or you'll get body slammed back down onto the mat so hard you'll be down for the count.
It's probably safe to buy something - maybe just about anything - FOR NOW, ladies and gentlemen… I'm sure everybody needs to… but prepared to Irish exit...
Careful though… It may already be over... mind those stairs, watch out for loose ones...
If bitcoin can close above 96,000 for the next five days, and not make any more lows below about 92,000, certainly not 91,000, I'll maybe change my mind about it... maybe. What I really need is a clear breakout from the arching-over range on the daily chart and then confirmation of support… That's gonna take more than a day or two or three or four...
The bullish patterns I'm talking about are naturally the bullish engulfing on the daily chart, but what ought to grab your eye is the staircase to heaven, right there in the most recent action on the hourly chart… When you have little blocky candles gently rising up one on top of the other, taking an uninterrupted march from the lower side of the bands to - and through - the upper, still unwavering, unfaltering, unchanging and unconcerned as though affected by nothing... You had better get in before it's too late… And when too late comes, it's really too late, there is no catching it… And you also better be ready to get out before you hit the tippy top or you'll get body slammed back down onto the mat so hard you'll be down for the count.
It's probably safe to buy something - maybe just about anything - FOR NOW, ladies and gentlemen… I'm sure everybody needs to… but prepared to Irish exit...
Careful though… It may already be over... mind those stairs, watch out for loose ones...
Order cancelled
Nothing is canceled except the very fleeting notion that I may have been wrong about bitcoin getting pounded into the ground!! Talk about loose stairs!!
I believe you can tell I didn’t trust this for a second.
“I am always right - except for one time…. Once, I thought I was wrong, but it turned out I was right!”
-Anonymous
Here it is straight from the trading horse‘s mouth⬇️⬇️⬇️
Do you know what has to happen now to convince me?? Bitcoin is going to have to sing and dance, nothing less.
Note
For the record, nothing would please me more than being wrong about this… What do you think? I hate Money?
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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.