Bitcoin Continue Long
In the original analysis I assumed we were going to get a deeper retrace on our B wave, but after this recent high was taken on Bitcoin, it's hinting that the B wave is at an end and we can finally continue up to our C wave. I'm long due to the high being taken out, and an H4 breaker will confirm at the red zone once it hits 4am. I am now long after taking a small loss on my short from the other day. Original post in the related idea link.
Nota
I see a heavy short squeeze coming as many saw the head and shoulder pattern. Well I can say that once a short term high is created after rejected the neckline of a head and shoulders, it's very like for the price to reverse. A lot of people were expecting a deep retrace, which give this even more influence to continue up higher and reverse. Often after an ascending triangle is formed, Bitcoin will find support near a parallel line from the top trend line of that triangle to the base of its wave 2. I'm expecting the gap in the next diagram to fill.
Nota
Nota
Would like to see inverse Head and Shoulders form here. Target 1 would be 9k, 2 would be 9.5k.
Nota
Bitcoin looking good. Just needs to close above 6991 on the daily candle to stay bullish.
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Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.