Bitcoin looks strong on the daily, and continues to close within the consolidation triangle. Next major stop around $15,000, then probably down before breakout in early February.
No offense but this is a bad analysis. Don't call for 15k yet, when we haven't even been able to break 12k, and we have already failed twice, and are trying unconvincingly now. Also, the bottom part of that triangle is you just drawing what you want to see, we have already broken down out of the real triangle.
Good luck
csa3d
⋅
@FlorisBouman, No offense taken. I'm still learning and appreciate the feedback. I was under the impression that the trend is not broken even though the wicks have broken the trend line if the candles continues to close above it. You are also correct that that 12,000 has been bullish, so perhaps this is premature as well.
csa3d
⋅
edit: meant to say Bearish
UnknownUnicorn1714327
⋅
@csa3d, I don't think it makes sense to only care about the closing price, although I agree if something only touches something for a split second it can be disregarded. The thing is on a daily candle it could spend 80% of the day low and bounce at the end, I dont think you can dismiss those low points. Maybe on 4h or less candles you can ignore the wicks more.
Anyways, we broke 12.5k, I am bullish short term now
grass3
⋅
@FlorisBouman, @csa3d Seems we broke 12k. thoughts?
UnknownUnicorn1714327
⋅
@ryanmack, yes, and 12.5k. Target price 13.4k imo, there we will see resistance from the triangle pattern we had broken down out of during the crash.
Good luck