BTC Breakouit
I posted about this inverse H&S a while back, it ended up leading to a nice rally, but rejected until it had a bullish reaction to today's FOMC minutes, or at least that's what appears to be the case to me. Just broke above the downtrend that started last week. Currently right on the line for a retest. We'll see if bulls can hold, I'd expect a move to the 63k area if they do. If not, still looking for another trip to around 50k.
In addition to the breakout and other chart patterns, this 61k area has also been resistance on several tests recently. A break could lead to a large move up, but for now I would say you should always expect the support or resistance to hold until they break for the most part.
In addition to the breakout and other chart patterns, this 61k area has also been resistance on several tests recently. A break could lead to a large move up, but for now I would say you should always expect the support or resistance to hold until they break for the most part.
Nota
BTC finally decided to breakout, nice move and it is doing it without NQ. However, the 63k area was my next target for upside and it's where bulls really need to prove themselves in my opinion. This is a previous high from August 8 and also some previous lows from earlier in the year.
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advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
ko-fi.com/advancedplays/tiers
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
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