Afternoon Traders,
Here's what I am currently keeping my eye on at the moment. We are in this ascending megaphone pattern. This is typically a bearish pattern longer-term. The problem is that we don't know how much longer the pattern will hold before we, most likely, drop out of the bottom side. It could be weeks. It could be months. It could hold for a year. But what we should definitely be keeping our eyes on the most is that bottom side. Today it sits at just under 67k. Tomorrow it'll be just over. By my calculations, it looks to be rising at about $437 a day.
Draw this one out on your charts and watch closely. As long as we remain inside the megaphone, I am still long, with growing caution over time. But once we break that bottom line, look out below!
Best,
Stewdamus
Here's what I am currently keeping my eye on at the moment. We are in this ascending megaphone pattern. This is typically a bearish pattern longer-term. The problem is that we don't know how much longer the pattern will hold before we, most likely, drop out of the bottom side. It could be weeks. It could be months. It could hold for a year. But what we should definitely be keeping our eyes on the most is that bottom side. Today it sits at just under 67k. Tomorrow it'll be just over. By my calculations, it looks to be rising at about $437 a day.
Draw this one out on your charts and watch closely. As long as we remain inside the megaphone, I am still long, with growing caution over time. But once we break that bottom line, look out below!
Best,
Stewdamus
Comment:
We have our answer. The next question will be whether that multi-year support holds us again.
Stewdamus Trades -
Prophesying the price action of markets one chart at a time.
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Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
