After such a long bear move, BTC finally turned as predicted from previous post. This initial first wave should be able to reach the 13k-14k area without trouble where the previous major consolidation was. After that probably some sideways before the next move.
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Even if it falls from here, 10k will be strong support.
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BTC might probably go sideways here for a few days while poking the 10k support a few times and working through the big falling trend line. Eventually I am expecting a break of the falling trend line to at least 13k.
BTC might probably go sideways here for a few days while poking the 10k support a few times and working through the big falling trend line. Eventually I am expecting a break of the falling trend line to at least 13k.
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In case the pattern traders are interested, we have a H&S formation forming, as long as 9k area holds it is a promising development.
In case the pattern traders are interested, we have a H&S formation forming, as long as 9k area holds it is a promising development.
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Inverse H&S formation
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Trend line is broken on 4H charts and a triangle is forming, this should reach 13k without too much problems when broken.
Trend line is broken on 4H charts and a triangle is forming, this should reach 13k without too much problems when broken.
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You don't need to be a genius to see that these lines are important, just look left and you will see how prices tend to react at these levels, and that also means this upmove will definitely go to 12k.