🔥 Thought Experiment Update: Break Out
Recently I posted a chart of the inverse chart of Bitcoin. The chart and corresponding analysis led to some interesting comments and discussions, see below.
The prior analysis ended up correct, and we saw a 35% rise in value since the last analysis. The ascending triangle broke out and we're currently in a strong bullish trend.
In my view, there's little to stop this trend until we reach the top dotted resistance line. This would bring BTC to a value of (give or take) 11k.
The 11k area is in line with my worst-case scenario for BTC, which is an 85% drop. 85% is important because we've dropped around 85% from high to (bear market) low in the last cycles.
Looking at the inverse chart of BTC might offer a different perspective of the market, which is always useful.
The prior analysis ended up correct, and we saw a 35% rise in value since the last analysis. The ascending triangle broke out and we're currently in a strong bullish trend.
In my view, there's little to stop this trend until we reach the top dotted resistance line. This would bring BTC to a value of (give or take) 11k.
The 11k area is in line with my worst-case scenario for BTC, which is an 85% drop. 85% is important because we've dropped around 85% from high to (bear market) low in the last cycles.
Looking at the inverse chart of BTC might offer a different perspective of the market, which is always useful.
🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.