Bitcoin has completed the third bearish tringle with a 9' Angle.
one last drop to the tringle support is expected to bounce back with a bullish candle that can penetrates the tringle top resistance.
Comments are much appreciated.
The Pound index forming a bullish wedge on the daily chart after retesting support. Front running bulls have already entered low-risk trades tight on support but will the pattern hold? As a bull myself in the long-term, I am focused more on upside potential than downside; although downward moves are key to entering long. It may not happen now, but I am...
Let’s take it to the daily timeframe.
Even it’s been a monster move, Bitcoin has a healthy uptrend, consolidating before next impulses..
Long story short:
If Bitcoin follows the red channel the next wave up is aiming to conquer the $80,000 USD area...
Remember consolidations and healthy corrections are needed to continue this uptrend beyond the first target 🎯
The pound has been grownig nonstop for the last few months... When will it finally STOP?? Now. It finally tested a very strong and important level, that has only been tested back in 2018 twice. So because history repeats itself in the trading game, the level will be tested again in the next few days, and we take advantage of that! Go long with take profit 1.42000.
Correctiong for Bitcoin has just started, we droped down around 30%, and now we are having next step of correction. On higher TF we stil have HG/HL which is good, the structure of the chart hasn`t been destroyed. But on lower TF we are bearish.
My point is to compare curent correction move with previous correction which occured in January. It took around 20 days...
All the information you need is on the chart.
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Will we see price rally up to our yellow highlighted key level?
Zooming out to the 8hr BTC/USD looks very good, still clearly on a bullish trajectory and the large volume on the lower trend line touch suggest the Bulls are still in control (for now)
There's still a chance for price to retrace lower but it seems less likely in the short term at least.
This is my personal view, analysis and theory based on XAUUSD .
I do think Gold will be long and go up to around 1900 area ( resistance area ) roughly 7400 pips up for grab.
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