Bitcoin Blitz to 38k -- or Retreat?
I isolated what looks like a very well preserved rising channel (see orange dash lines)
Within this rising channel, we can endure a lot of retrace WITHOUT breaking trend lines
I checked for whale movements and mostly it was cash INTO the exchanges (buying!)
But this does not mean none are waiting to sell.. or won't enter at the 4 am death hour (my time)
I told a friend earlier we would probably set a new ATH when we were trying to break 33800
Mostly because of the passionate rise from 5k below us, I was feeling lucky
And also correctly told him to take a risk on Dogecoin for the easiest returns
But Dogecoin is stalling out... despite technical show it doubling...
but it is not responding to BTC as one would think it would
And where I told him earlier...
that there was a 60 percent chance of getting where we are now
I would say at THIS time...
We might rise a bit more, but 60% chance we don't break the new ATH
And then we correct downward
If the correction consolidate and calms down..
alt coins might finally get to take the spotlight
Within this rising channel, we can endure a lot of retrace WITHOUT breaking trend lines
I checked for whale movements and mostly it was cash INTO the exchanges (buying!)
But this does not mean none are waiting to sell.. or won't enter at the 4 am death hour (my time)
I told a friend earlier we would probably set a new ATH when we were trying to break 33800
Mostly because of the passionate rise from 5k below us, I was feeling lucky
And also correctly told him to take a risk on Dogecoin for the easiest returns
But Dogecoin is stalling out... despite technical show it doubling...
but it is not responding to BTC as one would think it would
And where I told him earlier...
that there was a 60 percent chance of getting where we are now
I would say at THIS time...
We might rise a bit more, but 60% chance we don't break the new ATH
And then we correct downward
If the correction consolidate and calms down..
alt coins might finally get to take the spotlight
Note
I take that back about whale movement..just spotted a lone move of 500 BC into Binance
and surprisingly.. a lot XLM as well
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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.