$BTC Bullish Cypher idea
Still looking for some more confirmation here, but im really leaning toward this being the hard level we bottom at, at least on higher time frames. Maybe we get another swipe at the lows to really pull away from the range but i still want to reiterate that we cannot breach 13,800 without doing terrible technical damage.
I think 16500 and 15000 were extreme level targets for me but we havent been able to break this old All time high level, which could be indicative of strength, but i remain cautious, because sometimes levels like this are tetered on back and forth to inflict max damage to bulls and shorts while orders are stacked before the floor drops.
Not calling this the bottom, but something worth recognizing. The 886 would be closer to 12k, but that would invalidate wave 1, and in essence the entire bull cycle from the Covid lows.
I think 16500 and 15000 were extreme level targets for me but we havent been able to break this old All time high level, which could be indicative of strength, but i remain cautious, because sometimes levels like this are tetered on back and forth to inflict max damage to bulls and shorts while orders are stacked before the floor drops.
Not calling this the bottom, but something worth recognizing. The 886 would be closer to 12k, but that would invalidate wave 1, and in essence the entire bull cycle from the Covid lows.
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.