While many are claiming Bitcoin has reached target on their charts, or that Bitcoin is due for consolidation (which is true), or that Bitcoin bears should have entered their short positions, I SEE SOMETHING ELSE.
My charts are telling me that there is still actually more room for Bitcoin to move UP!
Here's my case:
First, notice the top circle. If we close above this steep ascending wedge, we are entering into yet ANOTHER breakout mode. However, I do believe this to be the last as we will be going vertical at this point. If we close above this ascending wedge on the daily then one of two things will happen:
1) We touch the top of the GREEN Channel at around $4000 or, 2) We go all the way up (and FAST) to around $4815 before breaking down badly.
You'll also see room to run into overbought territory on the RSI (bottom circle).
One interesting anamoly that I've spotted is some divergence from the bottom Bollinger Band (middle circle). Keep an eye on that. This could indicate a correction within the week BUT MAYBE NOT BEFORE WE BREAK THE ASCENDING TRIANGLE and head higher first. BE CAREFUL. WAIT FOR CONFIRMATION HERE.
If we don't break this triangle on the daily, correction may start now.
Be careful and happy trading.
交易结束：到达目标
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We broke last ascending triangle and reached our target price range of around $4000. This happened sooner than expected and so it could get ugly in the next few days/weeks. But if you missed this massive move up, you'll likely get a chance to hop on board soon.
@jbg_crypto, Unfortunately, I don't know. Bitcoin is moving so fast. Personally though, I am hoping for it to consolidate back down to the middle or lower half of my GREEN channel. I will be a buyer back in that range. Not here. I have a feeling that FOMO will hurt a lot of noobs in the crypto space.
El_Crypto_Ball
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@phil.steuerwald, yep, trying to avoid the noob mistakes I've already made in the last month since getting into crypto trading. Thank you for your thoughts!