Higher lows, RSI consolidating and after uptrend bearish volume on a decline. Will we see a break-out before or on 7 January? I will use the following setup to long.
The first target would be a retest of current resistance at 4180-4220 #TP1, the target will be a retest of blue line 4420 USD #TP2, #TP3 will be 4566-4841 USD and if BTC would be very bullish (which I don't expect for now) #TP4 5179.6-5600.
STOPLOSS will be below triangle wave point C (3620 USD) and ENTRY zone from 3666-3750!
The first target would be a retest of current resistance at 4180-4220 #TP1, the target will be a retest of blue line 4420 USD #TP2, #TP3 will be 4566-4841 USD and if BTC would be very bullish (which I don't expect for now) #TP4 5179.6-5600.
STOPLOSS will be below triangle wave point C (3620 USD) and ENTRY zone from 3666-3750!
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Update: Think BTC will make bullish movement more early, by 7th it should have definitely seen minor upmove already. ETH is going pretty strong too, may be leading.
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I've entered 75%, stop-loss in place as per chart, looking to add an additional 25% on dips.
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Seeing a repeated Inverted H&S pattern, let's call it a triangle inverted head and shoulders wave :D
Almost at our entry point! Are you ready?
Almost at our entry point! Are you ready?
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Entries filled! Last inverse head and shoulders painted, all timeframes 1-12H look ready on MACD.
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Measured Targets in Chart
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The range is getting narrow now! Updated chart.
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TRADE IS ACTIVE, left entry zone and above 3880. Good luck everyone! First target is current resistance, then 4400+, 4800 is strong reistance (take partial profit here for sure).
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Have you noticed how Bitcoin repeatedly has hit 61.8% golden ratio? We hit the area where the Bullrun took off and this likely set a (minor) fractal to repeat. If we were to break above 5800 this will conclude a successive spring and bitcoin will have the potential to retest 23.6%-38.2% range ATH to Current Low.
23.6% => 7092 USD
29.5% => 8812 USD
38.2% => 9577 USD
23.6% => 7092 USD
29.5% => 8812 USD
38.2% => 9577 USD
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Bullflag in the making, price closing inside after last minor dump, MACD is showing selling momentum is flattening.
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We broke up from the bullflag.
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Wow what a nice up! If BTC is able to go to Resistance Area there is a good chance it can go to 4800 USD
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Hit my stop loss for now. If Daily turns bearish on MACD we can expect further downtrend after this rejection.