TA on BTC for long term view on weekly chart
All what I know that we are forming a triangle in the weekly chart that I predicted months ago when everyone was calling me negative ...and we are heading to point 4 which should be a triple bottom of this triangle .... now we should not break that point 4 at to the downside ...coz the target of that pattern is around 1700...which is a disaster to crypto.
On the other hand we should bounce from point 4 toward the upper line of this triangle heading to point 5 and beyond and the moment we breakout this triangle we are heading to
14K lvl .... and I think it would be the bottleneck for BTC ...
Now the only concern for me is the Ichimoku indicator ...which never lied to me before ever... it is crossing below the candles on the weekly i.e. the long-term time frame ... which indicates a bearish signal that will last for weeks if not for months ... and we could stay there for soooo long ... and then will give me an indication that BTC could break to the downside to 1700k ... and the more news I hear the more I believe it ...
few days ago US federal announced that fare price for BTC is $1800 which matches my TA .... and when a triangle is formed in a downtrend usually it considered to be a continuation pattern ..i.e it might break to the downside ... so I won't have an idea if we are going to be up or down in the coming months unless I see the breakout of this triangle ... but Ichik. indicator always gives a prediction of what will happen ...and I can tell that we might see 1700 lvl more likely than 14k lvl
I wish bearish scenario does not apply at all ...coz it will be a disaster for all crypto holders including me.
On the other hand we should bounce from point 4 toward the upper line of this triangle heading to point 5 and beyond and the moment we breakout this triangle we are heading to
14K lvl .... and I think it would be the bottleneck for BTC ... Now the only concern for me is the Ichimoku indicator ...which never lied to me before ever... it is crossing below the candles on the weekly i.e. the long-term time frame ... which indicates a bearish signal that will last for weeks if not for months ... and we could stay there for soooo long ... and then will give me an indication that BTC could break to the downside to 1700k ... and the more news I hear the more I believe it ...
few days ago US federal announced that fare price for BTC is $1800 which matches my TA .... and when a triangle is formed in a downtrend usually it considered to be a continuation pattern ..i.e it might break to the downside ... so I won't have an idea if we are going to be up or down in the coming months unless I see the breakout of this triangle ... but Ichik. indicator always gives a prediction of what will happen ...and I can tell that we might see 1700 lvl more likely than 14k lvl
I wish bearish scenario does not apply at all ...coz it will be a disaster for all crypto holders including me.
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