Bitcoin - Dubious Speculation
I named the headline “dubious speculation.” The reason is that this idea does not include what we see in the chart at present. However, I am running this scenario in my head since Saturday, and today’s PA seems to support it.
On the 4H TF, you can see that we have a mini-Cup and Handle forming (in orange). If this pattern succeeds, the target is 30,400. Above the range PoC.
if we get above the PoC, it is possible that bullish momentum will pick up and Bitcoin can complete the larger Cup and Handle on the daily. The target for the Cup and Handle on the daily is almost 34,000.
I am not telling you that it WILL happen. I am telling you that it COULD happen. I think that as human beings, we find bearish scenarios are easier to imagine. The bull case is a possibility as well. I am open to both options. It could go either way.
NFA.
What do you think? Please share in the comments.
Best Wishes.
On the 4H TF, you can see that we have a mini-Cup and Handle forming (in orange). If this pattern succeeds, the target is 30,400. Above the range PoC.
I am not telling you that it WILL happen. I am telling you that it COULD happen. I think that as human beings, we find bearish scenarios are easier to imagine. The bull case is a possibility as well. I am open to both options. It could go either way.
NFA.
What do you think? Please share in the comments.
Best Wishes.