BTC is about to reverse back to ath! 50k+ incoming and alts too
BTC Current Price 31.1k
Bitcoin just closed a daily candle inside the accumulation zone 31k-28.8k at the bottom of a falling wedge squeeze.
These wedges and support lines have been highly accurate during my last 2 short calls and now we have a bullish wedge.
I've been calling the yellow box area between 31k-28.8k my "yellow school bus" zone because it has been a perfect zone to accumulate "more passengers to travel to the next ath destination" and for bounce trades 4 times in a row now.
It's looking like the next move will happen Feb 1-3rd. (The wedge may scoot over a few days) During this time we could bounce off 29-30k a few more times or wick through lower without closing in bearish territory.
Bullish Scenario 60% likely
If BTC breaks the top of the wedge and closes outside of it on the daily... then up to 40k+
Bearish Scenario 40% likely
If BTC breaks the bottom of the wedge then down to 23-24k becomes the worst case scenario before turning around to head back to ATH 42k+. I gave this scenario a 40% outcome possibility rather than much lower because in historical rallies, back in 2017 up to a new ATH, we had multiple 30-40% pullbacks.... If we head to 24k that would be right at a 40% pullback and we historically have stayed down for another 2-3 weeks. The length of time we have spent down here is also in line with historical pullbacks between 3-6 weeks long.
Right now the bullish scenario to 40k+ is more likely due these points
- Falling Wedge
- Weekly doji
- 4hr Bullish Divergence
- FA is all green
- Contact with 50D moving averages
- Contact with bottom of lin reg channel
- Psychological 30k buys
- Riding bottom of BB
and more...
Signs of the 23-24k bearish scenario
- Break down through the bottom of the wedge
- Break down through 28.8k
- low volume upward movement
- we go sideways to invalidate the wedge
- any major FUD
- stock market get rekt in next 2 days because of WSB lol
how to trade this:
if you're already in, hold most, sell a small amount if we break down through 28.8k and look to buy close to 24k
if you are out, accumulate in yellow box (and or alts)
either way, save some cash for the bearish scenario or confirmation of the bullish scenario
how to be an investor here:
HODL and Dollar Cost Average below 35k... BTC looks like it will repeat all of 2017 this year. (rally till Dec 2021)
We could reach 100/150/300k after 50k!
**** NOT FINANCAL ADVICE, these are just my ideas that I can link to because people keep asking me the same questions. Invest at your own risk ****
Bitcoin just closed a daily candle inside the accumulation zone 31k-28.8k at the bottom of a falling wedge squeeze.
These wedges and support lines have been highly accurate during my last 2 short calls and now we have a bullish wedge.
I've been calling the yellow box area between 31k-28.8k my "yellow school bus" zone because it has been a perfect zone to accumulate "more passengers to travel to the next ath destination" and for bounce trades 4 times in a row now.
It's looking like the next move will happen Feb 1-3rd. (The wedge may scoot over a few days) During this time we could bounce off 29-30k a few more times or wick through lower without closing in bearish territory.
Bullish Scenario 60% likely
If BTC breaks the top of the wedge and closes outside of it on the daily... then up to 40k+
Bearish Scenario 40% likely
If BTC breaks the bottom of the wedge then down to 23-24k becomes the worst case scenario before turning around to head back to ATH 42k+. I gave this scenario a 40% outcome possibility rather than much lower because in historical rallies, back in 2017 up to a new ATH, we had multiple 30-40% pullbacks.... If we head to 24k that would be right at a 40% pullback and we historically have stayed down for another 2-3 weeks. The length of time we have spent down here is also in line with historical pullbacks between 3-6 weeks long.
Right now the bullish scenario to 40k+ is more likely due these points
- Falling Wedge
- Weekly doji
- 4hr Bullish Divergence
- FA is all green
- Contact with 50D moving averages
- Contact with bottom of lin reg channel
- Psychological 30k buys
- Riding bottom of BB
and more...
Signs of the 23-24k bearish scenario
- Break down through the bottom of the wedge
- Break down through 28.8k
- low volume upward movement
- we go sideways to invalidate the wedge
- any major FUD
- stock market get rekt in next 2 days because of WSB lol
how to trade this:
if you're already in, hold most, sell a small amount if we break down through 28.8k and look to buy close to 24k
if you are out, accumulate in yellow box (and or alts)
either way, save some cash for the bearish scenario or confirmation of the bullish scenario
how to be an investor here:
HODL and Dollar Cost Average below 35k... BTC looks like it will repeat all of 2017 this year. (rally till Dec 2021)
We could reach 100/150/300k after 50k!
**** NOT FINANCAL ADVICE, these are just my ideas that I can link to because people keep asking me the same questions. Invest at your own risk ****