This pattern looks like a rising channel, with a descending triangle that has broken into a major support level. Plenty of other indicators to look at, but this is just a weird convergence. Started looking at this at a more macro level after the bearish divergence flashed on the weekly and the bullish divergence on the daily didn't make. This may be over...
Obviously no way to know if this will play out, but seems like a very possible scenario although there is definitely some bullish divergence in the RSI on the 4 hour.
When you look at BTC on the daily something is definitely up. I sold everything last night and had buys at the bottom but did not go low enough and got stopped out. rebought this morning, but I figure this thing is going to pop or it's hit a local top and will retrace pretty hard to the 20 week MA before restarting the run in the fall on the macro level. What...
For some reason to me, this still looks mostly like a bull flag event though it broke the top off it. When I change time frames it was more of a wick. Likely this should push downward still, but I'm hanging in on this one to find out.
I have likely watched this one too long and may be starting to crack, but I think it finally started to jump. I have little powder left, trying to pick the last entry point.
If the head and shoulders doesn't make today, this may be because of the 200MA trend support. It looks like BTC is getting squeezed here to me and being pushed upward.
Follow up to my prior chart. It's driving me crazy and I'm all in on this and stuck. I would've been super deep on enj if I hadn't been waiting for this damn triangle!!
