IS THIS THE START OF THE BULL RUN?
Updated
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I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.
#BTC
BTC is breaking out of this ascending triangle and also trying to break this symmetrical triangle pattern.
All these confluences are showing bulls are back in action, and we'll witness a strong bullish rally in the market but RSI is in over boat range.
For more conformation, we need a conform breakout of this symmetrical triangle pattern.
Analysis
- I have taken fractals from the past, 2019, from historical price action that we refer to as an 'echo bubble'.
- According to the fractals, one possible scenario is that we tap
14K, before making a 100% move up to 28k.
- This would be a completely reasonable trajectory to have in mind, considering that we have seen a case for Bitcoin moving from
4K to 14K
- Eventually, we would peak around the summer of 2023, with everyone thinking that the macro bull market has resumed.
- Personally, if this speculative scenario plays out, I would revert back to holding a massive cash position until the dust settles again.
- People, including myself, thought we'd never get back below 20k, and here we are now, with people calling for 7k.
Comment your view in the comment section and stay tuned, I will keep updating BTC in the different time frames.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.
#BTC
BTC is breaking out of this ascending triangle and also trying to break this symmetrical triangle pattern.
All these confluences are showing bulls are back in action, and we'll witness a strong bullish rally in the market but RSI is in over boat range.
For more conformation, we need a conform breakout of this symmetrical triangle pattern.
Analysis
- I have taken fractals from the past, 2019, from historical price action that we refer to as an 'echo bubble'.
- According to the fractals, one possible scenario is that we tap
14K, before making a 100% move up to 28k.- This would be a completely reasonable trajectory to have in mind, considering that we have seen a case for Bitcoin moving from
4K to 14K- Eventually, we would peak around the summer of 2023, with everyone thinking that the macro bull market has resumed.
- Personally, if this speculative scenario plays out, I would revert back to holding a massive cash position until the dust settles again.
- People, including myself, thought we'd never get back below 20k, and here we are now, with people calling for 7k.
Comment your view in the comment section and stay tuned, I will keep updating BTC in the different time frames.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
Note
Note
Note
#BTC
BTC perfectly continued its bullish move after reclaiming the main horizontal support and breaking out the descending trendline resistance.
Bullish volume is expanding, and 21.5K is the current resistance level that bulls must break to keep the market's bullish momentum going.
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