BitcoinLong
$BTC Bullish Shark Type 2
BTC has put in the type 2 low here, giving us a nice double bottom at support.
Locally on lower time frames, youve also got a nice adam and eve style accumulation/higher low double bottom.
To confirm the Double bottom / Dragon pattern, we would need to break above 22400
If we can get back above 20k itd make me feel a little more confident in a move up from here.
The double bottom measured move comes in around 26500, with the 1.618 a more likely target up near 29k and possibly extending into the low 30k area.
Hard to be confident with the market conditions as they are but this is how i would target a reversal upward from here, and expect it to be swift, for a nice sign of strength on par with a Wyckoff accumulation schematic.
Ive attached my last chart for BTC with similar targeting in the context of a Bullish Dragon / Bearish Bat.
Locally on lower time frames, youve also got a nice adam and eve style accumulation/higher low double bottom.
To confirm the Double bottom / Dragon pattern, we would need to break above 22400
If we can get back above 20k itd make me feel a little more confident in a move up from here.
The double bottom measured move comes in around 26500, with the 1.618 a more likely target up near 29k and possibly extending into the low 30k area.
Hard to be confident with the market conditions as they are but this is how i would target a reversal upward from here, and expect it to be swift, for a nice sign of strength on par with a Wyckoff accumulation schematic.
Ive attached my last chart for BTC with similar targeting in the context of a Bullish Dragon / Bearish Bat.
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