Bitcoin possible long opportunity
Updated
Hello!
Here we have a nice looking (1 hour) Bitcoin pattern rising wedge which is actually a bearish pattern, but on a bull trends these can break upwards like we have seen with Btc and Eth before.
I am looking for a small bear move before going upwards and breaking that upper resistance where we have hit several times and even made new highs today.
Or if we break, Break and retest price action.
First support is the upwards going line which has worked as a support. (Red circles)
Second one is stronger where we have 0.236 Fibo, 200 EMA, and previous structure (Green arrows) as a support. There is also 50 EMA on the same level on a 4 hour timeframe.
Last one is 50% Fibo where is also previous structure highs. If we go that deep.
Bitcoin Dominance did also find some king of support, which we pedicted. (Bitcoin Dominance analysis)
I suggest slowly start to plan your exits and when you will take possible profits. Thou I do think 100k to 150k Btc is possible. Fortiori
If you do take trades and are not holding for long term use stop loss.
Otherwise you will get your ass burned!
Jebu
Here we have a nice looking (1 hour) Bitcoin pattern rising wedge which is actually a bearish pattern, but on a bull trends these can break upwards like we have seen with Btc and Eth before.
I am looking for a small bear move before going upwards and breaking that upper resistance where we have hit several times and even made new highs today.
Or if we break, Break and retest price action.
First support is the upwards going line which has worked as a support. (Red circles)
Second one is stronger where we have 0.236 Fibo, 200 EMA, and previous structure (Green arrows) as a support. There is also 50 EMA on the same level on a 4 hour timeframe.
Last one is 50% Fibo where is also previous structure highs. If we go that deep.
Bitcoin Dominance did also find some king of support, which we pedicted. (Bitcoin Dominance analysis)
I suggest slowly start to plan your exits and when you will take possible profits. Thou I do think 100k to 150k Btc is possible. Fortiori
If you do take trades and are not holding for long term use stop loss.
Otherwise you will get your ass burned!
Jebu
Note
Long term target, 64k and 94k. Based on Fibonacci from previous low and identical leg Weekly
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