BitcoinLong
A, B and... ?
Updated
What happened:
The break-out try begining of march can be booked as failed (X). Retest of the lower trendline seems to be ongoing (A).
What I expect:
...is a successful retest (A) with a more or less direct reaction (B). This should directly pierce through the upper line of the wedge back towards higher grounds (Target: 10k to 12k).
Now...:
Let's assume this happens (and it happens quite fast) then one possibility would be a walk through in direction of it's ATH_ (B').
But for now we'll first wait to see if we get the retest (A)...
The break-out try begining of march can be booked as failed (X). Retest of the lower trendline seems to be ongoing (A).
What I expect:
...is a successful retest (A) with a more or less direct reaction (B). This should directly pierce through the upper line of the wedge back towards higher grounds (Target: 10k to 12k).
Now...:
Let's assume this happens (and it happens quite fast) then one possibility would be a walk through in direction of it's ATH_ (B').
But for now we'll first wait to see if we get the retest (A)...
Note
Not yet calling it off. But there is quite a volume increase combined with rising price. This might pick up and we might see some jump up this weekend. Let's see...Trade active
A has not really been reached. However the wedge is about to be left. B remains the next realistic target though. Quite bullish IMHO (unless we fall back into or below the wedge without intraday reversal).Note
Getting closer to target B. (I guess that the MtGox sellings being one if not the main reason for the last 3 months correction opens up the way for the bulls now...)
youtube.com/watch?v=XO6d2rKyG84
(youtube report from RoadtoRoota - Bix Weir)
Note
Currently less trading volume. Momentum is not very strong. As I said before... the retest A did not fully occur. Seems we have to be patient...Note
New trendline seems to be confirmed. It was touched the third time this morning.Order cancelled
It's finally gonna be a retest of the lower trendline it seems. So it is going to be A (or let's call it A') and then only B (B')...I am Closing this Idea.
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.