Hey everyone, hope all is well!
I have found something quite interesting! Has Bitcoin tipped the bearish scale and now become bullish?
Bitcoin Margin Trading Longs (BTCUSDLONGS) has completed two key technical bullish patterns:
1. RISING WEDGE FORMATION BREAKOUT
Bitcoin Longs has broken out of a perfect rising wedge formation (scroll into the chart). We are currently on the retest/retracement and looking for a heavy move up now.
2. BULLISH BREAKOUT OF STRONG RESISTANCE LEVEL
Bitcoin Longs has also subsequently broken out of a resistance level in which it was struggling to breakthrough (tested twice to the upside). It has closed on the 4H outside of level. We should expect a bullish move up.
With Bitcoin Longs going up, and Bitcoin Shorts going down, we can use these tools to help determine the scale of buyers/sellers in the market. Comment below if you have any further idea.
Bitcoin to go to 35K and redistribute supply, or to 40K to do the same. Let's be safe here.
Love, peace, Seb.
I have found something quite interesting! Has Bitcoin tipped the bearish scale and now become bullish?
Bitcoin Margin Trading Longs (BTCUSDLONGS) has completed two key technical bullish patterns:
1. RISING WEDGE FORMATION BREAKOUT
Bitcoin Longs has broken out of a perfect rising wedge formation (scroll into the chart). We are currently on the retest/retracement and looking for a heavy move up now.
2. BULLISH BREAKOUT OF STRONG RESISTANCE LEVEL
Bitcoin Longs has also subsequently broken out of a resistance level in which it was struggling to breakthrough (tested twice to the upside). It has closed on the 4H outside of level. We should expect a bullish move up.
With Bitcoin Longs going up, and Bitcoin Shorts going down, we can use these tools to help determine the scale of buyers/sellers in the market. Comment below if you have any further idea.
Bitcoin to go to 35K and redistribute supply, or to 40K to do the same. Let's be safe here.
Love, peace, Seb.
Note
Just a quick one. Here are the points at which Bitcoin Longs was at 48K. Both big bullish breakouts followed. Note
BTC SHORTS coming down fast!Note
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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.
Related publications
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.