On the BTC 4hr charts, it appears we have matured into a descending wedge with at least a rising wedge and a symmetrical triangle contained with. The 4hr time frame seems to be on track to extend the bullish hidden divergence further too.
With the Fib Retracements from the swing low of the last consolidation bottom and the all-time high, ironically, $42k is not just the target of the broken down symmetrical triangle but also the golden pocket on the Fib retracement. With this much confluence around the $42k, a bullish leaning descending wedge and bullish hidden divergences extending on the 4hr timeframes, surely it's only a matter of time before Bitcoin touches $42k and the bulls step back in and defend the previous all-time high of $42,000.
Expect to see a wick down and fast shot back to the upside, break out of the wedge to the upside, meet the technical target of the top of the wedge/ all-time high and rocket onwards...
Could this be the last pattern before we reach the promised land of $100k?
With the Fib Retracements from the swing low of the last consolidation bottom and the all-time high, ironically, $42k is not just the target of the broken down symmetrical triangle but also the golden pocket on the Fib retracement. With this much confluence around the $42k, a bullish leaning descending wedge and bullish hidden divergences extending on the 4hr timeframes, surely it's only a matter of time before Bitcoin touches $42k and the bulls step back in and defend the previous all-time high of $42,000.
Expect to see a wick down and fast shot back to the upside, break out of the wedge to the upside, meet the technical target of the top of the wedge/ all-time high and rocket onwards...
Could this be the last pattern before we reach the promised land of $100k?
Trade active:
Currently turtling to the upside and threatening a breakout of the 15min timeframe...
