Whether this is the wave of false hope, or the beginning of the new bubble, short term target lays below
Updated chart with my reasons for goin long, along with a pretty complete view of the market structure, and price action ofcourse.
BTC is about to take off. This Demand Zone is so intense that the amount of accumulation that's building will propel BTC to higher and higher highs! Couldn't hurt to long it...
whithin the 1W TF the Aussie is sitting on a massive support line. The 1D TF shows us just how strong this suport level is. And within the 1H TF we see the accumulation present as it's building, what I would like to predict, as a good sized HnS pattern. Heil AUD.
The drop from the bearish wedge is completed and now the pop.
As you can see, GBP/USD bounced off the uptrend line AND the bollinger band's bottom. I believe that we will test the middle of the bollinger band next week, which is around 1.5650 right now.
I predict a nice movement up to the 1.12s. Let the pippage begin.
Nice inverted Head and Shoulders pat. Should reverse here. Hopefullyt his bull-wedge is valid.
Has hit a double bottom with it being quite oversold. Taking a long position. We'll see.
After that dramatic bank induced bearish candel, the market should climb again.
New bottom found with high volumes. There is every reason to believe that the downtrend is broken and soon a new bubble.
follow me on twitter @flibbr Improved design / readability on my previous chart