Bullish
Overnight BTC spiked to just over over $8,000 testing the trend line marked in red before settling just below. Some good news here as we follow the Adam and eve double bottom pattern which would confirm above $11,400.
What I'd like to see is a bull flag forming which would push us past the trend line and right into the A&E confirmation zone.
Surprisingly we've caught up to the 100k path marked in blue. There's obviously no TA to support the path but it's fun to track. I doubt we'll see 70k by years end but on the other hand; this is BTC and fomo is real.
Bearish
Good things are happening but we are not out of the woods yet. Keep in mind Btc Could follow this trend line to the depth of 4k before finding solid support.
I'm keeping an eye on the blue triangle hoping for a bear flag forming and breaking above trend before going full bull.
Overnight BTC spiked to just over over $8,000 testing the trend line marked in red before settling just below. Some good news here as we follow the Adam and eve double bottom pattern which would confirm above $11,400.
What I'd like to see is a bull flag forming which would push us past the trend line and right into the A&E confirmation zone.
Surprisingly we've caught up to the 100k path marked in blue. There's obviously no TA to support the path but it's fun to track. I doubt we'll see 70k by years end but on the other hand; this is BTC and fomo is real.
Bearish
Good things are happening but we are not out of the woods yet. Keep in mind Btc Could follow this trend line to the depth of 4k before finding solid support.
I'm keeping an eye on the blue triangle hoping for a bear flag forming and breaking above trend before going full bull.
Comment:
Comment:
Trend line fully broken as btc 1.47% consolidates at 8k. The bull flag I was hoping for is forming just north of the area previously outlined (no adjustments made) Look for breakout before confirmation. Upside target between 9200 & 9400 with downside major support at 6800. We retouched the path to 100k before quickly retracing just as before. I fully expect this path to continue acting as major resistance throughout this cycle.
Disclaimer: I am a BTC 1.47% Holder and do not actively trade.
**TA is based on limited experience and this account is for learning/practicing***
Disclaimer: I am a BTC 1.47% Holder and do not actively trade.
**TA is based on limited experience and this account is for learning/practicing***