Hello,
here are my thoughts why I think BTC goes up from here at least $8k and from there I keep You updated!
Reasons/Criteria's on the same price level:
1. BTC completes "healthy" correction to make this "Double Bottom" trade as a textbook example (breakout formed "Double Bottom" & BUY when price retest breakout level, yes it took a little bit longer than expected)
2. Retest area is exactly in the round number area $7500
3. In the round number area, we saw in 4h chart formed "Railroad Tracks" candlestick pattern & in daily chart formed sloppy "Hammer" pattern
4. At this price level, we get 4. bounce from bottom trendline of the "Falling Wedge" continuation pattern
5. Al those criteria's matching with a decent Fibonacci area which is 70.5%-78% retracement
6. PLUS if we think BTC follows SPY (SP500) chart almost identically (SPY started its uptrend beginning of the May) then NOW it's time to follow this rally! :)
Please leave a comment, share this post if You like this & obviously give a LIKE ;)
All the best!
here are my thoughts why I think BTC goes up from here at least $8k and from there I keep You updated!
Reasons/Criteria's on the same price level:
1. BTC completes "healthy" correction to make this "Double Bottom" trade as a textbook example (breakout formed "Double Bottom" & BUY when price retest breakout level, yes it took a little bit longer than expected)
2. Retest area is exactly in the round number area $7500
3. In the round number area, we saw in 4h chart formed "Railroad Tracks" candlestick pattern & in daily chart formed sloppy "Hammer" pattern
4. At this price level, we get 4. bounce from bottom trendline of the "Falling Wedge" continuation pattern
5. Al those criteria's matching with a decent Fibonacci area which is 70.5%-78% retracement
6. PLUS if we think BTC follows SPY (SP500) chart almost identically (SPY started its uptrend beginning of the May) then NOW it's time to follow this rally! :)
Please leave a comment, share this post if You like this & obviously give a LIKE ;)
All the best!
Note
At the moment we could get our 7. reason :DInverted Head & Shoulders
ehh...but, but this is so rear!!
Note
Was this a bear trap?!Looks like we have some momentum after we break out from bear flag after that quickly back up! Usually, this is a good sign!
🔍I do the technicals - so You don’t have to.
📊Follow my research on Substack:
👉vaido.substack.com/ - ENG
👉vaidoveek.substack.com/ - EST
🚀 Actionable market analysis, ideas, and education
📊Follow my research on Substack:
👉vaido.substack.com/ - ENG
👉vaidoveek.substack.com/ - EST
🚀 Actionable market analysis, ideas, and education
Related publications
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.
🔍I do the technicals - so You don’t have to.
📊Follow my research on Substack:
👉vaido.substack.com/ - ENG
👉vaidoveek.substack.com/ - EST
🚀 Actionable market analysis, ideas, and education
📊Follow my research on Substack:
👉vaido.substack.com/ - ENG
👉vaidoveek.substack.com/ - EST
🚀 Actionable market analysis, ideas, and education
Related publications
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.