Updated

Is BTC breaking out 1000+ day channel

As my previous thesis, I excepted BTC and played along the past 2 months move with win ratio of 90%. All are shown on my previous posts. Now the big question is if BTC is going to breakout the bear market channel, signifying the new bull market, or result in a head and shoulder formation such as previously anticipated.

With international geopolitical tension rising, it would be possible that BTC and crypto can set a new bull run

Trade closed: target reached

What a move, again right on. I have allocated some of profits on to some ALTs.

I see quite a lot of confluence around $40k area. First and foremost a rising wedge. Secondly, strong previous supp/res area. Thirdly, psychological area. Fourthly, a significant Fibonacci resistance (0.5). Last but not least, weekly RSI starting to be in Overbought territory and could retest or stagnate around strong support area.

I think will do a small short squeeze reaching $40K area before correcting around $30K area as there is lots of shorts building and confluence level of $40K. I am not certain yet, this is why I sold 75% of my short-term position.

I think we will see ALTs pumping hard, especially, the ones that have had a lot of improvements and additions in terms of projects, tech, and efficiency. This is the reason on my previous post why I entered which is now 130% up since.

Trade closed: target reached

Just as predicted. Now I see exhaustion, a small recovery to perhaps 30-36k

Weekly RSI tells a lot

Note

ssavi

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ssavi