Hello Everyone,
Finally, BTC has made a move.
Bitcoin has broken the falling wedge. This is a bullish sign with a target of the pattern 52k minimum.
To make it simple, we have finally broken the bearish structures of the lower high, and we are now forming the first higher high after a month of bearishness. This is positive. However, the perfect sign will be for bitcoin to form a higher low in the short term creating a bullish uptrend structure.
Considering the wedge, when the price breaks a pattern, it is usually the start of the first wave of a minor degree which will start the new impulsive wave. Hence I have highlighted my expectations with BTC reaching 60k before falling again back to 52k, forming a higher low of intermediate degree.
Now, I plan to catch the move with the first retracement at 47800, laddering in the alts I was left behind.
This also always comes with risk so I will set a stop loss.
As I won't be entering with leverage, I will live the Stop loss a bit lose looking at around 45k. If that level is lost and this push comes short, it is a clear indication that the bears are in control.
Please have a great Xmas everyone, looks like CryptoSanta is about to bring us some nice presents.
FOLLOW ME, SHARE, LIKE AND COMMENT
Finally, BTC has made a move.
Bitcoin has broken the falling wedge. This is a bullish sign with a target of the pattern 52k minimum.
To make it simple, we have finally broken the bearish structures of the lower high, and we are now forming the first higher high after a month of bearishness. This is positive. However, the perfect sign will be for bitcoin to form a higher low in the short term creating a bullish uptrend structure.
Considering the wedge, when the price breaks a pattern, it is usually the start of the first wave of a minor degree which will start the new impulsive wave. Hence I have highlighted my expectations with BTC reaching 60k before falling again back to 52k, forming a higher low of intermediate degree.
Now, I plan to catch the move with the first retracement at 47800, laddering in the alts I was left behind.
This also always comes with risk so I will set a stop loss.
As I won't be entering with leverage, I will live the Stop loss a bit lose looking at around 45k. If that level is lost and this push comes short, it is a clear indication that the bears are in control.
Please have a great Xmas everyone, looks like CryptoSanta is about to bring us some nice presents.
FOLLOW ME, SHARE, LIKE AND COMMENT
CFcryptoTA
check the youtube channel out
youtube.com/channel/UC1nxHmfbU0pyoX7Bp-ayDuA
Telegram channel for 1 to 1 chat: t.me/TAEW4
check the youtube channel out
youtube.com/channel/UC1nxHmfbU0pyoX7Bp-ayDuA
Telegram channel for 1 to 1 chat: t.me/TAEW4
