Last weeks high: $40446.2 Last weeks low: $38576.9 Midpoint: $36707.5 Going into the final month of the year BTC continues its march into the 40k region after flipping 38.5k (Midpoint) as new support. After the 5th attempt at flipping the key area bitcoin finally managed to breakthrough and with that a surge towards and beyond 40k soon followed. 42K is a huge...
As I said yesterday in a post, BTC has corrected following a similar pattern from last year as indicated, I think we can expect a little more consolidation before we can see BTC move to $47k. As I said yesterday $42k will create opportunities for entries and thats what I've done. Remember to DCA in the event of a further crash, apply risk management. Short term...
This might indicate that we got rejected, but we are staying inside the box so maybe we are going with support to close above 42k next week.
BTC broke out of the broadening wedge guys! Target is 42k. I opened a ETH long on bybit (because ETH tends to make more gains). At 42k we will have a retest from the resistance level.
After Bitcoins drop market had recovery with low slope now this is time to make decision 42K and more or 30K and lower? In my idea the chosen path will be 42K Good luck
Here's a look at BTC 2 hr chart. We are right now forming a bigger decending wedge. We might get back to 46.8k and hopefully bounce off that level. Remeber that there's a posibility that we get down to 42k here.
At $58k BTC kicked off its descent and has now proven path in a descending channel with a few prominent support lines on the way down. The width of channel is enough that it supports the idea we will push our way down to major support which for BTC is a trendline that was establish 5 months ago in October 2020 when BTC started its ascent. This is a strong...
42k is a strong accumulation zone where we will bounce extreme likely. bye.
If you look at my previous related idea, Bitcoin broke the first triangle upside and it doesn't seem to be a fakeout at the moment. Bitcoin could form a potential rising wedge giving an opportunity to play both short and long for swing traders and scalpers or DCA for holders. It could recover 42K this month and breaking a new ATH around 45K if February performs...
BTC is trying to break through 40K if it does it's likely to hit 42K and maybe even ATH within 12 hours.
I see an ascending channel from ~14 December, when the price evolves in the bottom of the ascending channel, it pumps slowly but surely and always bounce back from the bottom of the channel. When the price evolves in the top of the ascending channel, it pumps faster and higher before going back to the middle or the bottom of the channel. Stimulus check increasing...