We could be about to descend into a full state of panic in the markets?
The uncorrelated nature of Bitcoin could become very attractive to investors as they seek shelter from a global slowdown?
This is the time for Bitcoin to step up and prove its worth in my opinion.
It maybe an early call but I am preempting the completion on an inverse head and shoulders pattern on the daily chart.
I have a neckline that comes in at 10522. A break above here and we start targeting the 2019 high at 13868. Beyond that we are looking at the measured move of the inverse head and shoulders pattern at around 14615, then a 161.8% extension of that pattern at 17144.
If those targets are achieved, then it may only be a matter of time before we see a new all time high printed, beyond that, who knows?!
The potential right shoulder has corrected by around 50% and we are looking set to close above the 10EMA on the daily chart, which for me is a trigger to get long.
Best of luck!
The uncorrelated nature of Bitcoin could become very attractive to investors as they seek shelter from a global slowdown?
This is the time for Bitcoin to step up and prove its worth in my opinion.
It maybe an early call but I am preempting the completion on an inverse head and shoulders pattern on the daily chart.
I have a neckline that comes in at 10522. A break above here and we start targeting the 2019 high at 13868. Beyond that we are looking at the measured move of the inverse head and shoulders pattern at around 14615, then a 161.8% extension of that pattern at 17144.
If those targets are achieved, then it may only be a matter of time before we see a new all time high printed, beyond that, who knows?!
The potential right shoulder has corrected by around 50% and we are looking set to close above the 10EMA on the daily chart, which for me is a trigger to get long.
Best of luck!