BTCs last BIG pump & dump before huge bull market!?
Updated
Hello,
i will keep this analysis as short as i can.
Currently BTC is on an uptrend on the higher uptrend creating higher highs and higher lows.
A lot things are lining up for a pump to $10500 - $11000 BUT i will also explain one thing which would make me short term bearish in the screenshot below.
I will explain in the screenshots below, why i think a pump might come first before the last big dump.
Here is a short overview of the current situation:
1. BTC soon attempting the fourth try to break the three year resistance line at ~$11300
2. Huge Weekly resistnace at $11511 which goes back to bullmarket 2019
3. Potential Bull Flag with a target of $10800
4. Break above $10074 will print a Bear Divergence on Daily
5. Target for short would match with that white support line and the order block between $8820 - $8571
6. Potential Cup&Handle with a target of.. guess what: Exactly the same target as the bullflag one at $10800
7. Todays retest of the support at $9623 succeded, which was also a order block from 2019.
i will keep this analysis as short as i can.
Currently BTC is on an uptrend on the higher uptrend creating higher highs and higher lows.
A lot things are lining up for a pump to $10500 - $11000 BUT i will also explain one thing which would make me short term bearish in the screenshot below.
I will explain in the screenshots below, why i think a pump might come first before the last big dump.
Here is a short overview of the current situation:
1. BTC soon attempting the fourth try to break the three year resistance line at ~$11300
2. Huge Weekly resistnace at $11511 which goes back to bullmarket 2019
3. Potential Bull Flag with a target of $10800
4. Break above $10074 will print a Bear Divergence on Daily
5. Target for short would match with that white support line and the order block between $8820 - $8571
6. Potential Cup&Handle with a target of.. guess what: Exactly the same target as the bullflag one at $10800
7. Todays retest of the support at $9623 succeded, which was also a order block from 2019.
Note
Here is the one thing which would make me short term bearish:Its the Bearish 3-Method Formation candle stick pattern, which is really really powerful when its confirmed.
The bearish one has 5 Candles.
First long red
3 small green
Fifth long red
If BTC closes after Daily close the 4 hourly candle below $9623, a nasty big dump might follow.
Note
Here i explain to you, why i think, that a big pump and big dump might happen very shortly.Read the description on the chart from bullrun 2019.
Note
Lets check out the current Price Action.
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