BTCUSD - something f*cky?Ascending wedge on chart - breakout above obviously. Play outside the playground for best results and least regrets.
Betches
Kissing 100 DMA has consequencesPerfect profit taking position here shortly off an H&S pattern. Expect consolidation and buy dips. Profit taking would have netted you 5% premium off current prices, which is no small feat for any portfolio.
Its all about earning your edge in trading - don't scoff at 5% - selling at 100 DMA was a no brainer. Now its time to BTFD and see if it rips higher. Discipline yourself by maintaining cautious.
False break-down "Beartrap" Coming-Right-UpNeckline established on the last daily candle. Price squeezing in a close juncture here at an important fib-level.
What will be brilliant is if price breaks the blue trendline downwards and quickly reverses, trapping bears. The reason this might happen is that breaking the trendline on price will not necessarily break RSI trendline. RSI trendline established strong support and current price action with SOME consolidation is actually constructive. I'm expecting a 100% to 61.8% retrace from the last 4 days action between ~10,200 and 10700.
Hold the established "Bull-line" on RSI and continue upward. Buy the dip.
However, keep in mind, a close below "Bull-line" will be bad news for bulls.
Target remains 15k.
BTC approaching heavy resistance linelast week "moment of truth" RSI break out was nice and gave us easy 20% gains. The next test comes on the actual chart. Break above this resistance line and we could see some new highs for BTC. 100-300% from here is [ [ [ ]]] IF IT BREAKS OUT.
