I have attempted to break down the current 4 month parabola into a strong sequence of patterns and what stands out is the Ascending Triangle.
Before each aggressive bullish candle sequence within the Parabola, BTC consolidated roughly within an Ascending Triangle formation. When that Triangle broke upwards, an aggressive new Top was made.
Assuming that each consolidation is on a -0.27% decreasing rate, then by the start of the 2nd week of June BTCUSD should make a new break to the upside. A minimum of +25% rise has been calculated, which sets the target at $10500.
@Yuriy_Bishko, Not impossible at all Yuriy. I have mentioned such possibility on my latest analysis.
Cincottitrader
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Why don’t you check the weekly chart and analyze stochastic and RSI?
SHORT
TradingShot
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@tentothetwentyseven, To be honest the Weekly has been calling for a short for weeks now.
TheAmericanTaxpayer
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@TradingShot, can manipulating the daily rsi help extend the life of the weekly? Like you said, its been extended for awhile which causes me to not sleep lol.
I doubt we will see Bitcoin at 3k again. But this is probably our last chance to get in at lower prices. Be patient and discerning! I am happy about this pullback.