This looks like a "Bump and Run Reversal" setup to me and BTC is most likely eventually going to touch the 10500 area.
This is because the target area for a "Bump and Run Reversal" is normally where the "lead-in" ends which is around 10500 on this chart.
This is because the target area for a "Bump and Run Reversal" is normally where the "lead-in" ends which is around 10500 on this chart.
Note
BTC can also Bull-trap up before dropping lower to the target as was done in the graph below. Therefore its a good idea to sprinkle buy orders in the lower 11k area and wait.
Note
Another thing is from the chart below the monthly Stochastic has not crossed over bullishly as it did in 2019 and 2015 to indicate the start of the uptrend.My thought is Its Best to be patient and wait for the Bullish Stochastic cross on the monthly chart before entering long.
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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.