BTC technical analysis 4/2/2022 *NOT FINANCIAL ADVICE*
51.4K within 12 days? (4/14/2022) based off inflection point on trend line
(arrow 1)
I think it will happen by Monday IMO (3 days) this is based on previous symmetrical top
(arrow 2)
potential marker for near symmetrical retracement based on previous high in bearish cycle (assuming our retrace up looks similar)
(arrow 3)
My technical reasoning:
-Ascending triangle was formed and a breakout was confirmed
-Triple bottom formed within the ascending triangle
(2 bullish charts is a good sign for me)
-Momentum & Money Flow Index are in line with Stoch RSI potentially confirming the start of a larger trend.
-MACD is on the cusp of a reset
whales & Institutional buys are the brunt of this next inflow.
I'm personally going long.
Anti-Hedge
(arrow 1)
I think it will happen by Monday IMO (3 days) this is based on previous symmetrical top
(arrow 2)
potential marker for near symmetrical retracement based on previous high in bearish cycle (assuming our retrace up looks similar)
(arrow 3)
My technical reasoning:
-Ascending triangle was formed and a breakout was confirmed
-Triple bottom formed within the ascending triangle
(2 bullish charts is a good sign for me)
-Momentum & Money Flow Index are in line with Stoch RSI potentially confirming the start of a larger trend.
-MACD is on the cusp of a reset
whales & Institutional buys are the brunt of this next inflow.
I'm personally going long.
Anti-Hedge
If we can't bounce at 41.5 were sliding back to 36k-38k range.
If we do break out trend I'll be ready to short 41k to 37k. those are my targets pending we don't bounce and I'll switch and throw it short.
*NOT FINANCIAL ADVICE