We have spiked since my last post about going long on BTC. Signs were obvious of a bull move, but how long will this run? My First TP level has been hit, looking now for a reentry for the larger move. Massive weekly head and shoulders MAY confirm, not there yet. If we do not confirm weekly candle above the pink neckline, we may reverse back to the Ichimoku cloud currently at $8,854. The interesting part is the right shoulder is much smaller then the left, indicating supply has been bought up at higher velocity then the weeks that formed the left shoulder, a bullish sign. I have seen BTC do many things the last several years, it could rocket to 13K in the next 24 hours, or dump to 8k. We shall see. I cleaned up the chart a bit by hiding the Bollinger bands. We are trading well above the Ichimoku cloud which is a good sign. Weekly RSI has lots of room to run which leads me to believe we will see a sustained up move. The monthly chart is showing interesting signals I will show below, clearly busting through the triangle trend line but yet to confirm a monthly candle above the Ichimoku cloud, so we may stagnate a bit before moving onward. Not trading advise.
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