BTC 300K is the Idea !
Bitcoin has finally broken out of this Mega Megaphone pattern that has been building since March 2021. Now for some, it is still an Inverted Head And Shoulders pattern that is playing out, whilst both are good patterns the end goal target remains the same. 300K.
The chart shows an increase in Volume and break out this month, concreting its way towards price discovery.
The smaller Megaphone pattern depicts our first target at around 99K , thus we are having small consolidation and pull back before new highs.
As per the legends of Crypto Twitter , their targets remain in the similar range of 300K.
And as of a cycle top, we shall see 120K first before a pull back again and newer highs, I believe.
Right now Bitcoin is King and the King is in Price Discovery Mode, which means sky is the limit as there are no resistance forces behind lagging it and is way above the 30MA on the Monthly and around 130% from the 200MA on the Weekly chart. Furthermore with the news and increase in volume of Bitcoin, and its mainstream counterparts, We shall see some serious Volume coming in. Price is King and we must really understand this by seeing how Bitcoin is beautifully putting in Higher Highs and Higher Lows on Higher Time Frames.
Lets see how this plays out !
The chart shows an increase in Volume and break out this month, concreting its way towards price discovery.
The smaller Megaphone pattern depicts our first target at around 99K , thus we are having small consolidation and pull back before new highs.
As per the legends of Crypto Twitter , their targets remain in the similar range of 300K.
And as of a cycle top, we shall see 120K first before a pull back again and newer highs, I believe.
Right now Bitcoin is King and the King is in Price Discovery Mode, which means sky is the limit as there are no resistance forces behind lagging it and is way above the 30MA on the Monthly and around 130% from the 200MA on the Weekly chart. Furthermore with the news and increase in volume of Bitcoin, and its mainstream counterparts, We shall see some serious Volume coming in. Price is King and we must really understand this by seeing how Bitcoin is beautifully putting in Higher Highs and Higher Lows on Higher Time Frames.
Lets see how this plays out !
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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.