Almost every triangle an the various intervals from 15 min to 1 day, have seen a rise breakout followed by a dump.
The main triangle started before Christmas is closing along with a smaller recent triangle. This double squeeze will give extra momentum to a breakout.
I expect the pattern to be repeated with BTC rising and temporarily sneaking through the 13000 resistance before dropping down.
The timing will be seen in the 4hr RSI overbuying before the end of the month, dropping down to oversold and pulling the daily RSI into oversold with it.
The daily RSI last hit oversold in September and that bounce worked out pretty good (if you had BTC).
This Daily RSI event will trigger bots to buy so we'll see a volume increase and sharp rise.
To summarise:
In the immediate future a risky small long hold
Followed by a good short sell
Followed by panic selling
Followed by large volume buying and a decent long position, with potential momentum mixed with FOMO to break 14,000.
Caveat: I am not a professional trader or adviser. Do your own research before making any trade. Never trade more than you can afford to loose.
The main triangle started before Christmas is closing along with a smaller recent triangle. This double squeeze will give extra momentum to a breakout.
I expect the pattern to be repeated with BTC rising and temporarily sneaking through the 13000 resistance before dropping down.
The timing will be seen in the 4hr RSI overbuying before the end of the month, dropping down to oversold and pulling the daily RSI into oversold with it.
The daily RSI last hit oversold in September and that bounce worked out pretty good (if you had BTC).
This Daily RSI event will trigger bots to buy so we'll see a volume increase and sharp rise.
To summarise:
In the immediate future a risky small long hold
Followed by a good short sell
Followed by panic selling
Followed by large volume buying and a decent long position, with potential momentum mixed with FOMO to break 14,000.
Caveat: I am not a professional trader or adviser. Do your own research before making any trade. Never trade more than you can afford to loose.
Commento:
daily chart helps see a couple of trend lines....
Commento:
Looking on the money, but thinking there will be one more small bounce before the daily hits oversold.
