BitcoinLong
BTC Bullish, Diamond Bottom With Projections
Updated
Bullish.
Close up of same chart in image below. Stuck under wedge but knocking repeatedly for entry (yellow circles).
According to Gann theory, once we hit this blue resistance line two more times, we're going up.
I am targeting the big yellow circle area for this, in about 4 hours, because we will be clearing the pale green horizontal resistance at the same time, and we will have the local rising bright green support there as well.
If you're trying for a long from here, keep your stop well below that bright green line to avoid falling victim to a long squeeze.
Also looking like a sweet diamond bottom is forming. Once we climb back into the wedge, I can see us climbing steadily to the upper wedge resistance and popping through there where it intersects with bright yellow descending resistance (after maybe a couple attempts) and watching for a grand rally from there.
Measure twice, cut once.
May all of life's treasures be yours.
Close up of same chart in image below. Stuck under wedge but knocking repeatedly for entry (yellow circles).
According to Gann theory, once we hit this blue resistance line two more times, we're going up.
I am targeting the big yellow circle area for this, in about 4 hours, because we will be clearing the pale green horizontal resistance at the same time, and we will have the local rising bright green support there as well.
If you're trying for a long from here, keep your stop well below that bright green line to avoid falling victim to a long squeeze.
Also looking like a sweet diamond bottom is forming. Once we climb back into the wedge, I can see us climbing steadily to the upper wedge resistance and popping through there where it intersects with bright yellow descending resistance (after maybe a couple attempts) and watching for a grand rally from there.
Measure twice, cut once.
May all of life's treasures be yours.
Note
Sorry for any confusion- I copied and pasted text from another window. There is no "image below". If you want to see this chart on a wider timeframe, look at my previous chart from Sunday. This close-up is just an update of that idea now that we've been seeing how it's been playing out for 4 days. Thanks!
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