We have not lost the daily 100 since the covid crisis. Let us hope for a bounce.
We have broken out of a falling wedge on the inverted daily chart. Fading this move so early is a recipe for disaster imo and I think ultimately 46-43k (blue lines) make and obvious target point for a mid term swing position.
i think we most likely break the lows before the highs and we re-load at 33sih
close above 50k on the 4 hour invalidates this idea.
We have not confirmed weekly bearish divergence yet but if we close a weekly below last weeks low it would confirm. This would be a very bearish signal and would point bitcoin back below 10k. This has not been confirmed but is certainly something to keep in mind.
I think we are doing something like this pattern. Will update when invalidation occurs
This, of course, is my humble opinion. Thoughts are on the chart. Good luck
If so looking for a retest of 11k. This is just a shot in the dark....although I would be very happy if played out.
Sitting on the 100 month moving average and Horizontal support....I think we rally which won't be good news for bitcoin. Let us see.
I have seen some large name bitcoin twitter accounts talking about "not wanting to fade this breakout". I think that is rubbish. Based on everything we are seeing from volume this "breakout" is nothing but another lower high trying to form. Until we see real volume coming in to the market there is nothing that points to anything different. You will know when...
Heavy short here, if we break back into teh triangle on a 4 hour close I will take the L....expecting 8400,8100 and 7500.
Trade I am taking, use low leverage and preferably spot if you are going to follow along. Good luck
I expect a break out to follow. Looking for reteest of the highs/sweep of the highs.