BitcoinLong
bitcoin key technicals
Aktualisiert
There is a lot going on in the bitcoin chart, marked what i think is important to watch.
Key level remains 10500, which when broken down would make it look bearish/sideways
Key level remains 10500, which when broken down would make it look bearish/sideways
Anmerkung
bitcoin remains in the consolidation trend for now, moving outside of the triangle slowly.it was too early to form the sharp channel.
Anmerkung
btc trying to break free from the conolidation trend and increase momentumAnmerkung
hit wolfe wave targetAnmerkung
i expect that btc will try to hit 32k by early january already (if it manages to break out from the old ath) and there will be a good place to take some profits off the tableAnmerkung
the 32k target is in reach, i expect a correction there, which should be a buy opportunity for sideliners similar as in summer 2017Anmerkung
outer channel target is hit, so likely it will pullback from hereAnmerkung
price didnt stop at the channel resistance, all it did was a shortlived 20% quick dump and now moving higher and entering bubble territoryAnmerkung
btc holding up above the outer channel, if it remains like this we can search for new higher targets soon and make a new chartAnmerkung
the teal channel which seemed crazy to most turned out to be lowballso we can draw the more retarded one which could be hit in the cycle, we can also watching the monthly rsi which had hit 96 in the previous cycles
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