Hey fellow crypto traders,
Here is a simple look at bitcoin on the daily.
This ascending wedge pattern has a high probability of breaking to the downside, in which case we would end up at the red sad fast.
However there is much anticipation for the breakout above $4200, to get a better and true re-test of the 5k psych level.
Things to note:
1. currently battling weekly 20MA - this is huge.
2. trendline resistance
3. 78.6 fib resistance
4. RSI getting up there
A weekly close above 4200 will rocket the following week towards $4700 (extension levels) and send some alt coins parabolic. But if it cannot hold this $4050 level, then it could also get ugly fast, and many Alts will get crushed
There will be crowded stop losses below $4000 now, as it will mean the ascending wedge structure break is in play. so if you are fomoing in here, keep it tight. I think the risk vs reward outlines on chart is a nice setup.
Best of luck, hit thumbs up.
Here is a simple look at bitcoin on the daily.
This ascending wedge pattern has a high probability of breaking to the downside, in which case we would end up at the red sad fast.
However there is much anticipation for the breakout above $4200, to get a better and true re-test of the 5k psych level.
Things to note:
1. currently battling weekly 20MA - this is huge.
2. trendline resistance
3. 78.6 fib resistance
4. RSI getting up there
A weekly close above 4200 will rocket the following week towards $4700 (extension levels) and send some alt coins parabolic. But if it cannot hold this $4050 level, then it could also get ugly fast, and many Alts will get crushed
There will be crowded stop losses below $4000 now, as it will mean the ascending wedge structure break is in play. so if you are fomoing in here, keep it tight. I think the risk vs reward outlines on chart is a nice setup.
Best of luck, hit thumbs up.
註釋
love it when a plan comes together. Time to take a small short using the profits made from this pump - targeting $4,700 on BFX. Stop above $5,200
免責聲明
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。