Long

Bitcoin buy zone is the triangle

By lilothebest

Updated

Best Long/Short time is before the 26/8 august time stamp

Note

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

Note

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

Note

price denied by the diagonal found here

back to the triangle again for buy
+ date of 26th is growing near

Note

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

Note

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

Note

above channel is invalid

as 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

Note

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

lilothebest

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