Top of the Mornin' !
I'm elaborating here a bit more on the Idea I previously posted about BTC.
The general idea remains untouched - I still think the 2021 Top is around $120K and that this bull run will continue.
As you can see, the price is respecting this cycle rising support line even though it wicked below it. I marked the few times this happened and that leads me to think that analysis should be done without taking wicks into account (just like in Forex or Stock trading).
The momentum of this long-squeeze was strong and if the market keeps going that way - the breaking of the wedge would lead us to $30k back again - to say the least.
Although anything is possible, I feel this is unlikely to happen as I have checked the wallets activity and it is more than bullish.
Letting you know that the $48,4K support is crutial here, and we don't want to see any daily candle close below that number.
Cheers!
I'm elaborating here a bit more on the Idea I previously posted about BTC.
The general idea remains untouched - I still think the 2021 Top is around $120K and that this bull run will continue.
As you can see, the price is respecting this cycle rising support line even though it wicked below it. I marked the few times this happened and that leads me to think that analysis should be done without taking wicks into account (just like in Forex or Stock trading).
The momentum of this long-squeeze was strong and if the market keeps going that way - the breaking of the wedge would lead us to $30k back again - to say the least.
Although anything is possible, I feel this is unlikely to happen as I have checked the wallets activity and it is more than bullish.
Letting you know that the $48,4K support is crutial here, and we don't want to see any daily candle close below that number.
Cheers!
