đź’Žâ‚żTC: Symmetrical Triangle Breakout DONE, What's Next? 20K.
Hello Dear Traders,
On Jan 18, we posted this idea:
We discussed earlier about strong bearish closing on weekly candle, After 14 weeks of Historic bull run. we can now confidently say tht 42k is bearish territory and its not easy to cross without healthy correction of 30-40%. As per tht BTC dumped very well and tested Solid Demand Zone(28k) as expected. Also one more thing to notice is btc dumped from DAILY timeframe Symmetrical triangle chart pattern. whenever we see breakout from chart patterns like this, Target is length of the triangle, most of the time price achieves 70-80% length of triangle. So the Triangle target is 20000$. right now btc fundamentals are extremely good, i don't think we will see btc at 20k, in worst case only 20k can be tested.
BTC touched low of 28k area and we seen very nice demand from this area, if btc is going to dump more first btc must retest 34500$ area.
Also BTC dominance decreased dramatically which is indicating ALTSEASON is AHEAD.
On Jan 18, we posted this idea:
We discussed earlier about strong bearish closing on weekly candle, After 14 weeks of Historic bull run. we can now confidently say tht 42k is bearish territory and its not easy to cross without healthy correction of 30-40%. As per tht BTC dumped very well and tested Solid Demand Zone(28k) as expected. Also one more thing to notice is btc dumped from DAILY timeframe Symmetrical triangle chart pattern. whenever we see breakout from chart patterns like this, Target is length of the triangle, most of the time price achieves 70-80% length of triangle. So the Triangle target is 20000$. right now btc fundamentals are extremely good, i don't think we will see btc at 20k, in worst case only 20k can be tested.
BTC touched low of 28k area and we seen very nice demand from this area, if btc is going to dump more first btc must retest 34500$ area.
Also BTC dominance decreased dramatically which is indicating ALTSEASON is AHEAD.
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