Bitcoin buy zone is the triangle
Updated
Best Long/Short time is before the 26/8 august time stamp
Comment
added an extra 2 channel lines in orange
Trade active
Reached The upper boundary of the triangle ( 9800 ) i suspect
1) current weekly candle to make a wick towards 8800~9000 area
only to close a red doji candle
candle close in 60 Hours
2) next weekly candle wick a bigger area 8600~9000
classic Ta school
price is forming a falling wedge targeting 11700
both schools confirms the movement
Date of 26 Aug is far away from the expected price action
so lets keep the date for that time
Comment
whichever side gets the breakout , will trade accordingly
in case of a break to the upside . 8800~9000 buy area is cancelled for now and we immediately go for 11700
Comment
price denied by the diagonal found hereback to the triangle again for buy
+ date of 26th is growing near
Comment
Price reached triangle Coupled with baakt news to support the analysis
we should see 13k or even 14k before end of current month
then correct by the time zones
Comment
Channel that will occupy price for the duration
condition is a 4hr close above 10400 for the channel to be valid
breaking channel to the upside will result in further acceleration in speed
Comment
above channel is invalidas price was "late" in moving inside the channel
acceleration in the speed of rally will occur
target of 13~14.4k by end of month is still valid
Some important timezones coming up this week ,including mercury on the 24th
also i got a reading of date 14/9 being a bottom
Comment
forgot to post this yesterday as i was hitting the bed
here is what i expect the price to do ,Explanation in the comment above
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.