After some turbulent uncertain times followed by the ill-timed ETF rejection news, we are most certainly back on track.
- Bitcoin made a fast and solid recovery, that at first seemed to be much harder as volume was declining and bounce was nowhere to be found. - The new wave count indicates a first wave up and forming 2nd down. - We can expect a bigger pole than the first wave up for the 3rd wave - Key point is that Bitcoin holds this upper part of the previous ascending channel to make its way up the even steeper channel to 5th wave completion. - Bullish pennant looks nice
Bullish all around, but would be stupid not to prepare for a bull trap as the market makes what it wants. Be sharp, be safe!
All the best! -B
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Bullish pennant:
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Corrected my wave count positioning
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3 possible scenaarios
1. Bullish pennant breaks to the upside with continuation and a retest (3rd wave high) @8500 2. Bear trap! Drops to channel bottom @800 ish, before bouncing furiously up. 3. Bear to Bear and down to heavy support@7600
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Sorry for the change in themes, I'll stick to the last one for now. Is it looking good for everyone?
AND
Thank you for the support!! :) :)
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As I see it:
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could this be the bear trap, falling down just to trigger stop limits!? Interesting!
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Pennant just got longer
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Initial upwards breakout attempt ...
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Bitcoin is setting up for the next break up from this ascending triangle/bull flag. It is getting really close now. Bitcoin is having some luck on the media side as well. Looks promising for a move up.
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AND Bitcoin being Bitcoin. So the support for this tunnel is @ 7700. This might be a shake off.
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So the last prediction happend now. we are testing that flag/channel bottom now. Hope it holds or we are up for a volatile disruption to this bull run.