BTC Expecting Bounce
Updated
Expecting price to bounce from support to resistance.
Note
Note
1.) There are two waves of structure with targets leading to 30k+. When a wave is created, there is energy behind it. The more waves in the boxed area signal to me a stronger likelihood of a target being reached.
2.) The consolidation after the pump, with tightening highs and lows, has Phase D accumulation characteristics.
3.) The Monte Carlo Fallacy, otherwise known as the Gamblers Fallacy, is a general concept I have applied to trading. The majority of bettors do not believe the market can keep moving in one direction consistently. However, to me, it is a general fallacy as the trend is bullish until we hit a significant rejection or significant target.
4.) We have still failed to break the significant lows in the consolidation. If we can close under 26.5k, I would reassess my bias.
In short, I believe 30k will be reached.
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