I expect the price to float above 1200 as we wait for SEC to announce the ETF outcome this Friday. This is a good opportunity for a very short-term long. Be on your toes at all times. Good luck trading!
Looking at one year regression trend for Bitcoin, it's very clear within range and will continue to USD 1100 - 1200 (and possible break AT H) within the next two months. Strong buy signal, going LONG.
Waiting for a breakout, & continue heading north for this winter would be the idea, if no breakout, further retracements might occur due to profit taking, but the consensus is definitely being long, at least for long term.
As seen in chart, very simple but powerful
The last impulse complete the structure. Short position is the best strategy for the next 3 months. The first objective is 750/730 for the wave A Later a corrective wave back the price over the 800 dollars, the objective of the B wave is approximately 850 but first need see completly "A" for a better opinion. The finally objetctive of "C" Wave is arround of 650 dollars.
Weekly Candles have stopped making big wicks, we are up for a correction ? Jurik's RSI (smooth rsi) also shows overbought levels and after every bull phase, btc has correction so i guess we are going to go sideways and then a dump maybe and then form support and hit 6000 levels.
OK GUYS, GALS AND PALS. BITCOIN PROBABLY MAY MAKE SOME NEW HIGH BUT VERY LIMITED AS THE RED RESISTANCE LINE IS IN PLAY. BUT ALSO HAS SOME GOOD UPSIDE POTENTIAL. PROBABLY IN A ZONE TO BUY FOR SHORT TEMR HOLD AND SELL IT DEPENDING ON SITUATION PROBABLY LAT OF THIS YEAR OR EALY NEXT YEAR AND GO FOR SHORT SIDE ONCE THEY BREAK THE 1ST GREEN SUPPORT LINE AND SHOWS...
Bitcoin has been running far into the apex of its potential triangle pattern. Usually this means the pattern is either not happening or the move out of it will only be very shallow. Overall the consolidation does not change the big picture. Bitcoin is on the way to $800 and $1,000. Let your winning run and keep your stop at $465