BTC broke out of our last bull flag and pushed up by roughly $300 give or take. It hasn't pulled back nearly as much as LTC and some of the others. This is a great sign of strength. This strength is especially identified because the weekly MACD has remained sloping upwards for some time and the lines have widened showing more upside pressure, once the weekly macd goes positive, we should have a substantial move up. Now that we are very much consolidating, we do not want it to stall here and form a min H&S pattern, which would indicate it's going to retest this $4,500 area. Ideally if we can hold these levels and move up in a such a way I have identified, we will get a stronger move to the upside.
Our ladders are in good position as we laddered from 6500 down to where I got filled at the $3,400 area I identified specifically in one of my previous posts. It will be a no brainer to get out once we get hit this $6,000 area. Until then, we will be chopping around and possibly retesting $4,500.
Happy Trading and hodling,
-Sherem
Our ladders are in good position as we laddered from 6500 down to where I got filled at the $3,400 area I identified specifically in one of my previous posts. It will be a no brainer to get out once we get hit this $6,000 area. Until then, we will be chopping around and possibly retesting $4,500.
Happy Trading and hodling,
-Sherem
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Previous ideas -
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Answer: BTC bull flag IMO -
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ascending triangle rather