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! :)
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All the best!
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At the moment we could get our 7. reason :D Inverted Head & Shoulders ehh...but, but this is so rear!!
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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!
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