BitcoinLong
Understand Why BITCOIN-Bulls Have The Upper Hand - Next Stop 14k
Updated
I will here argue why Bitcoin most likely will go to 14,000 USD. Remember this is trading, so we cannot be sure of anything, and its all about probabilities.
I had this scenario for a couple of days. I will not use Elliott Waves, even though we get the same result: A WXY parttern or Double Three. lI will go back to Classical Charting, and I will tell you, why the Bulls have the upper hand. We just had a good close here on the 8 hour and a decent on the 4 hour.
As you can see we are inside a big neutral triangle, BUT the formation is more Bullish than Bearish though.
Short term we are fighting with resistance around 11,4k USD. The bulls need to go up, so they dont get caught in the HS Formation with the 2 yellow rectangles, which acts as shoulders.
But as long as we keep making Higher Lows, we will eventually make an ascending triangle, which will take us up to 11,6k, where we have resistance from the big triangle.
But suddenly the big inverse HS pattern is in play, which most likely will take us further up. If we measure the distance from the Head to the neckline, and hereafter apply it on the right shoulder we will hit 14,000 USD!
Here you go - And Remember That LIKE!
D4 Loves You <3
I had this scenario for a couple of days. I will not use Elliott Waves, even though we get the same result: A WXY parttern or Double Three. lI will go back to Classical Charting, and I will tell you, why the Bulls have the upper hand. We just had a good close here on the 8 hour and a decent on the 4 hour.
As you can see we are inside a big neutral triangle, BUT the formation is more Bullish than Bearish though.
Short term we are fighting with resistance around 11,4k USD. The bulls need to go up, so they dont get caught in the HS Formation with the 2 yellow rectangles, which acts as shoulders.
But as long as we keep making Higher Lows, we will eventually make an ascending triangle, which will take us up to 11,6k, where we have resistance from the big triangle.
But suddenly the big inverse HS pattern is in play, which most likely will take us further up. If we measure the distance from the Head to the neckline, and hereafter apply it on the right shoulder we will hit 14,000 USD!
Here you go - And Remember That LIKE!
D4 Loves You <3
Note
Ill show you the danger, which instantly will ruin this pattern, and it is IF the bears are getting luck to form this Neckline, and we fail to make Higer Lows. Then this ugly HS Pattern will be in play.Note
This candle here is Super important. So far the bulls have won the battle. But the danger is in this potential HS Formation, which could take us directly down.But so far, as you can see, we are still making a beautiful Higher Low. And everything is good.
Note
Bitcoin Bulls are fighting right now. This candle here has completed the right shoulder, and this means danger. Lets see.Note
Admitted its not easy. This illustrates, once again, how tricky those 4th waves are. Suddenly everything looked like the bulls had to give up after the smaller HS Formation was formed, but BOOM we jumped up in safetly!A very important thing I have learned is to stick to my trade, and not suddenly cancel. I have been Long since 10.9k.
And we got rewarded for that here! Its looking really promising now.
Note
BULLS-alarm. Will this Steep uptrend followed by a Flag and pennant take us to 12,100 USD!? That is very likely.Note
Yees. Come on Bulls. Puuuuuush!Note
Beautiful. And beautiful close on the 4 hour. Now watch that flag pole rise and take us to 12k and above. And hereafter we get help from the inverse HS pattern, which will take us further up.And please remember that LIKE. Thats make me happy. TY.
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.