"There's an epic pump going on. Have you seen it?"
It's an EXTENSION to our previous Idea: Weak Price Action ▶️ Strong Price 🟢 Bulls're Back 🐂 TP: $37500
Everything on our previous Idea is still valid!!
So, you followed our previous Idea, and now, you've got +48% ROI. Should you close your long now?
KEY POINTS: - According to RSI, the Momentum has Bullish Direction - The Price touched Double Support (Combined Support: Historic Bottom + Channel Support) - The Price Action is in a Volatility Triangle - The Trend respects the Bullish/Upwards Channel
Thus, the Price Action enclosed itself into an epic Volatility Triangle, and it cannot break down because of the KEY POINTS above. You know what's coming. Fasten your seatbelt for this one.
Don't be a weak hand and fall for a Bear Trap! The Price Action broke out of the Volatility Triangle and entered the Support Area a bit below the Bullish Channel. (The Support Area is between $33 000 and $30 000, see our previous Idea.) It's where the pump is inevitable, and it'll burn Bear bones to ashes.
Comment
Look how well our Support Area trapped the Bears, and now, our followers' diamond hands are in piles of profit!
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.