$BTC #Bitcoin IH&S Golden Cross
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Bullishly engulfing here with RSI breakout out on the 6HR as we enter the bullish control zone. Bitcoin has managed to hold its 45 degree trend here which keeps the bullish trend intact, with a golden cross as well. Ideally youd want to see the 200 heading upward as well but the context is right as we are above both and have backtested with confirmation. We've also got this inverse head and shoulders type pattern maturing, which would give you a measured move confluent with our upper zone, which is also confluent with the 1.618 of this initial rise cycle.
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Youre also getting a nice divergence on the ADX and volatility signals on the RSI, which generally come shortly before a major move. Id love to see a strong open tommorow morning here in NY.Anmerkung
If we do break down from 42800, id be targeting 3800 for the check back of the break out. We could come back up and fail to make a new high, possibly giving us the beginning of a bullish bat, inside of a Bearish Gartley (posted on twitter) 42800 would be a good entry if we come back down off this impulse up, id say confirmed support there would be confirmation, with a stop under 41500 theoretically.
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38,000*
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