Numerous indicators are showing that Bitcoin may want to retest that 48k resistance level again. The retest comes quicker than I anticipated by I am not going to fight price action here. VRVP and FRVP support strong accumulation at or near the neckline of that inverse H&S pattern I have drawn. Neckline has been broken to the upside where there is not a lot of selling pressure. Playing a BTC long here to 48k with a SL just below the point of control (red line) on the VRVP.
Comment:
Raising stops to break even. Target 48k is close.
Comment:
Took half off at 47.5k and raised stops again to 46.3k
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Prophesying the price action of markets one chart at a time.
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