Bitcoin continuing to complete corrective phase to backtest 8k.
Pattern has repeated twice previously, both on the close, both to close CME gaps and both resulted in continuation into buying interest. See them attached for reference. Both made alot of money.
Weekly looks good to hold above the 20WMA which is critical on a macro POV.
Im interested in 8k-8.1k. Mainly in a cash position at the moment. Following long idea will be invalid if the weekly closes below the 20 and 50WMA next week.
All of this is perfectly reasonable within the 12 month forecast. I expect a run to 9k again in the next couple of weeks.
shorting the lows lel...see you next month at 10-11k~
cosmoscloud
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Any new update after this pump!
ParabolicP
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Give it up Dewey Cox
PsychonauticalTrader
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A run at 9K in the next couple weeks you say? How ‘bout next couple hours!!’
Meijiro
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No, not at all. It broke the falling wedge and will go back to bull. Bitcoin is mostly echoing anti-fiat and is generally lagging the same movements as Gold / Silver atm.
@filbfilb, that is a falling wedge, not descending channel. If you look at the Gold / Silver charts you will see something very similar. They broke about a day earlier.
filbfilb
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@Meijiro, You should teach trading, knowing so much!!!!