Bitcoin to surprise most with move to $70k

Bitcoin price action has literally bored market participants into a gelatinous state of perpetual apathy. That’s about to change. Why?

1) Price action and RSI resistance breakouts. See daily chart below.

On the 8hr chart above (using Heikin Ashi candles for cleaner reading):

2) A trend reversal is evident with the first higher low since April 3rd. Green arrow.

3) The flag, you can see it? It is very clear. A breakout is confirmed with a measured extension to $69-70k.

4) Most ideas published on tradingview.com at this moment are “short”. Remember the crowd almost always gets it wrong.

Is it possible price action corrects further? Sure.
Is it probable? No.

Ww


Daily chart

تم فتح الصفقة:

Smug mode status = fully charged

تعليق:

There is a significant amount of "Short" contract orders at $67k.
IF price action pushes through rather than rejection, a short squeeze will follow.
A strong upside move should be expected in that event.

تعليق:

PS:

** GRM support confirmed **

Once on May 1st and again on May 13th.

أغلقت الصفقة: تم الوصول للهدف:

"Bitcoin to surprise most with move to $70k"

6 days later....


Would you believe where price action is going next?
Will say elsewhere.

تعليق:

Did you miss the last move to $70k?

Here is your 2nd opportunity. Only 1 in 10 people will take it. The rest will provide the liquidity required by the market.

تعليق:

Price action returns exactly to where it was four days ago on the signal above only to print a new one today.

Got to love this market, it is almost as if emotions are in full control. Dips are opportunities, take advantage.

تعليق:

A pullback in price action is now seen since this idea met it's target.
That is normal. Why? Very simply, a whole bunch of folks who bought at 70k plus saw price action dip to 56k. This was there chance to exit, they're done with this market. That is who is selling, that is what causes a higher low to print. Human psychology.

The next long is from 65.8k area.