We hit a new bottom. 1st target on the chart. If you're not day/margin trading, hold long position until clear boundaries for an upward trending channel are in place.
The wick in yellow is what tipped me off. And that everybody and their mother is going long. You guys are all drawing your triangle wrong by the way. If we do drop to $5700 and bounce back quickly, we get a double bottom (and moon, wheeeee)
The bright green and bright orange boxes are particularly important. That's why they're so bright :) Give some likes if all this makes sense to you!
I am 100% positive that we're going up. Not so much on how far and how fast (although I have some crazy guesses). Wherever it is we eventually end up, we'll make a pit stop at 10k. Why? Because a whole bunch of people have sell orders there.
Come on guys, it's not rocket science...
Enjoy the ride. I'll check back once we hit the black line.
Will probably coincide with the 2hr window Bitfinex goes down for maintenance. I'd keep a close watch on things...
Path based on a new pattern formed by the failure of the previous one.
Obviously this is just an idea and not trading advice. The path was drawn after taking into account a number of different factors not incorporated into the chart. Relevant comments are on the chart since nobody reads this anyway. Good luck and happy trading.
One possible scenario based on how the price has behaved during previous breakouts.
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The bull run starts now but a fair bit of warning here, we won't make it to a new ATH this year.