I have identified this as a
V type wave, evidenced by price
structure and .
For this reason I have confidence in the
V target, not so much our E.
But we must keep in mind that the further we keep going up the harder it is to sustain.
For this reason we can't be too confident and pay attention to price action and order flow. We must also keep in mind that the timeframe I'm using to base my ideas is the daily and not the usual 2 hour and 4 hour charts I post, meaning a lot can happen between "here" and "there"
Stay safe and happy trading folks.
Donations keep the analyses rolling it.
Thanks all and happy trading.
While it is getting less and less likely that it will continue rising, we must prepare for the event that bitcoin does decide to ride past our E target.
For this reason I have created updated bullish projections for bitcoin found here.
However we must keep in mind that we are in a place price-wise that I would consider "top-heavy" or simply meaning it has a lot of people holding it that are feeling like they want to take profit.
Anyways it appears the wave we observed on that post failed. Our E target for this post was our top.
thanks all and happy trading