Update on Bitcoin Idea
Updated
Just a slight update to my previous BTC idea that is tracking well.
I expect a weekly close above this fib resistance, and then a small rally to get people FOMOing in. Price should then take another dump to the trendline to get people scared.
If this happens, I will be looking for a wick to the trendline, and a weekly close on the support line from the previous ATH at around $42,000.
Alternatively, we dump straight to that trendline in the next 2 days and close the week on support at 42k.
If neither of these happen in the next 2 days, this idea is invalidated. But it's been working almost perfectly so far, so I'm sticking with it.
I expect a weekly close above this fib resistance, and then a small rally to get people FOMOing in. Price should then take another dump to the trendline to get people scared.
If this happens, I will be looking for a wick to the trendline, and a weekly close on the support line from the previous ATH at around $42,000.
Alternatively, we dump straight to that trendline in the next 2 days and close the week on support at 42k.
If neither of these happen in the next 2 days, this idea is invalidated. But it's been working almost perfectly so far, so I'm sticking with it.
Note
TradingView always makes my text and arrows overlap, not sure how to stop that. Apologies. It should be legible anyway.Note
Looking good Note
If BTC fails to break out here, it might be a good idea to short down to the trendline Note
If it breaks out, consolidation should be over and we'll continue up from here
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