Don't have time to write a description right now sorry.
Posted something similar a few minutes ago, this time with retracement levels.
This is the most obvious trade i have ever seen. Look at the RSI... look at the project... and right before altseason.
The general consensus is bearish right now. So many people think that the ETF tomorrow will be a "sell the news event." I am not wasting even a second considering the outcome of that. It is already priced in, nothing will come of it. What im wondering is why nobody is remembering the massive cup and handle pattern we are in, the supply shortage on exchanges,...
Self explanatory. We need a few pullbacks to heal the RSI but otherwise we are looking incredibly bullish. Red arrow is much less anticipated than green but its a possibility.
Too many people see the cup and handle, if you're waiting to enter for a dip, I think you will be frontrun . Don't try waiting to buy in the 5,400's too many people will open leveraged longs. Really? Do you think you're the only one with that idea? Everyone wants to long there for the f***cking mega-giga-pump cup and handle that is clear as day to all of these...
Hopium Fueled absolute best case scenario. This is less likely but will happen in one of our universes.
We are either going to hold this ascending triangle in the next hour and pump upward, or look towards a super violent drawdown over the next week to the bull market bottom support line. IMO I don't care either way because either my current holdings will be worth more - or I will have opportunity to buy even more back in the 2,400's
If we get a bounce here we could be forming a nice head and shoulders which would be a great setup for a micro bull run in october/november/december.
Let's all be honest.... The general consensus in the community is that bitcoin is going to 100k. Remember back in May when everyone said "Doge to $1" and it pumped to $0.79 but then everyone sold? I believe that right now we are forming a beautiful cup and handle pattern which will simultaniously look like a W breakout pattern on the shorter...
Chart is self explanatory. Sellers NGMI. Follow for more ideas!
We have just seen a terrific run up, but now we have the ultimate quesiton: Can we break the green line and resume the bull run, or will we drop back down? Well, we saw bitcoin's price make an attempt when it kissed the convergence of the green bear market line, and the white upswing trendline on my chart. After falling under the Red support level, we are now...
Looking like we formed a new mini support structure with three points of contact. If this holds we can see another attempt at $40,000. I am assigning a 65% probability of this happening.
Imagine if we just continued to stay in the range... and this happened. The dashed line is a presumptive continuation of the current trajectory of the market. This is another scribble of mine I am not suggesting this with much certainty in comparison with my usual posts, In fact, I think it is much more likely we go straight down.
Let me know how this makes you feel.