The BTC Project 2019, Phase 01, Edition 08 >THE BULLISH VERSION
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Observation:
If BTC's pullback is to a reasonable fib.level such as the previous support of 7600, and then rallies up, it will complete the inverse\inverted H &S, and hence in pink, the height of the move.
If BTC consolidates within the previous low and this the new high, 8100, bouncing within the pennant, this too will launch it towards the 9200 to 9500 range.
Note the black line going through the major trend, acting as a resistance line for todays top price.
In each case, it is a bullish perspective with a lot of potential.
I also noted the shorts are going up.
Its a theory worth watching as it develops.
I'm not going to discuss the bearish scenario in this picture as I have done it in other posts.
If BTC's pullback is to a reasonable fib.level such as the previous support of 7600, and then rallies up, it will complete the inverse\inverted H &S, and hence in pink, the height of the move.
If BTC consolidates within the previous low and this the new high, 8100, bouncing within the pennant, this too will launch it towards the 9200 to 9500 range.
Note the black line going through the major trend, acting as a resistance line for todays top price.
In each case, it is a bullish perspective with a lot of potential.
I also noted the shorts are going up.
Its a theory worth watching as it develops.
I'm not going to discuss the bearish scenario in this picture as I have done it in other posts.
Nota
where the resistance lines match for the potential inverted H&STrade attivo
Stopped at exactly on the fib ring as per the first resistance when it hit above 8kTrade chiuso manualmente
I believe we are now in a change in trend towards the downside. Hence closing this off with the following thoughts.Nota
If it finds support at the 7100, then the pennant is still in play and hence uptrend to continue.
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Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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