Bitcoin on Crossroads
Updated
Bitcoin has had an amazing BULL's year looking back since March's 2020 Black Swan Event with a price as low as 3.850$, and took less than three months to having find a breakout at 10K from 3.8K of March's Lows and it ran to the previous ATH 20K.
After breaking the last all time high of 20K and creating Support on it, 65K has been printed as the NATH with some stops at between 40-50K level area, putting new all time highs one after another trending bullish with Higher Highs and Lower Lows from 20K.
Fibbonaci Retracement with the Golden Pockets colored on orange thick straight lines, is taken from the apex of 20K ATH in 2017 to 10K Brokeout, a level that Bitcoin found HUGE BOUNCES when people was trying to catch a falling knife, and that's the area we bought and swing traded to the utmost profitable trades that was given by crypto raging wild <3 .
The Gann Fann projections is taken also aswell from the 10K breakout triangle apex of 2017's ATH, and the 1/2 trendline splitts the Bulls against Bears in terms of TREND, which at this moment we speaking it is another speculative confluence on TA.
The crossroads are the Pitchfork which we currently still on trades but consider taking profits for full trend confirmation while
we also have the light blue descending channel having a previous fake out and where BTC's at, it may happen to be just another one fakout, but worth mentioning is that retest on Technical Analysis has happened twice and seems to be respecting it.
The bigger Pitchfork is take from 65K ATH to 29K lows and the highes point from that DUMP, but we are already out of it on important zone-levels.
While the ne shorter time frames [hourly and daily] the smalled Pitchfork has been helping us a lot to trade the outside of the descending channel's second break out.
Where will Bitcoin be headed this quarterly summer?
Throw your guess at the comment section down below :)
NOTE THAT THIS IS NOT FINANCIAL ADVICE!
PLEASE DO YOUR OWN RESEARCH BEFORE PARTAKING ON ANY TRADING ACIVITY BASED UPON THIS IDEA
After breaking the last all time high of 20K and creating Support on it, 65K has been printed as the NATH with some stops at between 40-50K level area, putting new all time highs one after another trending bullish with Higher Highs and Lower Lows from 20K.
Fibbonaci Retracement with the Golden Pockets colored on orange thick straight lines, is taken from the apex of 20K ATH in 2017 to 10K Brokeout, a level that Bitcoin found HUGE BOUNCES when people was trying to catch a falling knife, and that's the area we bought and swing traded to the utmost profitable trades that was given by crypto raging wild <3 .
The Gann Fann projections is taken also aswell from the 10K breakout triangle apex of 2017's ATH, and the 1/2 trendline splitts the Bulls against Bears in terms of TREND, which at this moment we speaking it is another speculative confluence on TA.
The crossroads are the Pitchfork which we currently still on trades but consider taking profits for full trend confirmation while
we also have the light blue descending channel having a previous fake out and where BTC's at, it may happen to be just another one fakout, but worth mentioning is that retest on Technical Analysis has happened twice and seems to be respecting it.
The bigger Pitchfork is take from 65K ATH to 29K lows and the highes point from that DUMP, but we are already out of it on important zone-levels.
While the ne shorter time frames [hourly and daily] the smalled Pitchfork has been helping us a lot to trade the outside of the descending channel's second break out.
Where will Bitcoin be headed this quarterly summer?
Throw your guess at the comment section down below :)
NOTE THAT THIS IS NOT FINANCIAL ADVICE!
PLEASE DO YOUR OWN RESEARCH BEFORE PARTAKING ON ANY TRADING ACIVITY BASED UPON THIS IDEA
Note
The Bigger Picture on the Monthly from 2017's 20.000$ All Time High to March's 3.850$ Black Swan Event. Also clearer on the Fibbonacci Retracement
Note
From 65K ATH DownTrend
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