BitcoinLong
Price target HIT, this is my next move!
It looks like we have found support above 21220 and inside the purple trend channel.
Ive outlined our first support region just below that point and i think its important we stay above that if we are going to see any real continuation and sustainability with this move.
On the upside im going to watch for a reversal at the top of the purple channel around the 22057 area.
If we break out on the upside of the purple channel we may be looking at a test of the 23-24000 area where we hit the teal trend line.
There is another trend in the purple above that, that intersects with the teal up near the 24000 range, and that is why i would look for a retracement in that area should we get there in the next couple days.
Nobody knows whats going to happen next but it looks like were seeing relative sustainability short term.
This may be the beginning of the next 4 year cycle and bull run.
At first i thought we may not see a lot of upside from ATH's because of the shock and some selling off, but after we just spent all this time in the 18 and 19k handles, we may have enough pressure to move higher, and fast.
Im long, and will be for all of 2021. Id recommend doing the same, but i dont offer trading advice! :D
Ive outlined our first support region just below that point and i think its important we stay above that if we are going to see any real continuation and sustainability with this move.
On the upside im going to watch for a reversal at the top of the purple channel around the 22057 area.
If we break out on the upside of the purple channel we may be looking at a test of the 23-24000 area where we hit the teal trend line.
There is another trend in the purple above that, that intersects with the teal up near the 24000 range, and that is why i would look for a retracement in that area should we get there in the next couple days.
Nobody knows whats going to happen next but it looks like were seeing relative sustainability short term.
This may be the beginning of the next 4 year cycle and bull run.
At first i thought we may not see a lot of upside from ATH's because of the shock and some selling off, but after we just spent all this time in the 18 and 19k handles, we may have enough pressure to move higher, and fast.
Im long, and will be for all of 2021. Id recommend doing the same, but i dont offer trading advice! :D
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