Good Evening and I hope you are well.
tl;dr
bitcoin - Max bullish. 100k next. Don’t fight it. I scalp long on strong momentum.
comment: No doubt this will go to 100k. The move is so beyond everything at this point, no one will stop this. I would not be surprised if this hits 100k, to then dip 20-30% in 4-8 weeks after that. For now, don’t fight it and join strong momentum. 4h 20ema has not been touched since Wednesday.
current market cycle: peak euphoria - small pullback bull trend
key levels: 70000 - 100.000
bull case: Bulls want it bad. They will likely get it soon. Any decent dip is bought and we are printing 2-3% 1h bull bars. 4h tf shows 2 clear legs already, third one will likely lead to 100k.
Invalidation is below 80000.
bear case: Any pullback is mostly going sideways and it looks like it’s only bulls taking profits. Can’t be a bear in this. Don’t even try.
Invalidation is above 110.000.
short term: max bullish for 100k
medium-long term - Update from 2024-11-11: 100k and then down to 70000 in 2-4 weeks.
current swing trade: No thank you.
trade of the day: Long anywhere and for any reason.
tl;dr
bitcoin - Max bullish. 100k next. Don’t fight it. I scalp long on strong momentum.
comment: No doubt this will go to 100k. The move is so beyond everything at this point, no one will stop this. I would not be surprised if this hits 100k, to then dip 20-30% in 4-8 weeks after that. For now, don’t fight it and join strong momentum. 4h 20ema has not been touched since Wednesday.
current market cycle: peak euphoria - small pullback bull trend
key levels: 70000 - 100.000
bull case: Bulls want it bad. They will likely get it soon. Any decent dip is bought and we are printing 2-3% 1h bull bars. 4h tf shows 2 clear legs already, third one will likely lead to 100k.
Invalidation is below 80000.
bear case: Any pullback is mostly going sideways and it looks like it’s only bulls taking profits. Can’t be a bear in this. Don’t even try.
Invalidation is above 110.000.
short term: max bullish for 100k
medium-long term - Update from 2024-11-11: 100k and then down to 70000 in 2-4 weeks.
current swing trade: No thank you.
trade of the day: Long anywhere and for any reason.
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Related publications
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.