I said In my last post
I belive we will move up, reason for why I think so? We have the same similaritis as the covid crash, fear index was 11, it was extreme fear in 2 months, funding was favoring bullishness and it still is. Miner capitulation and now we have a buy signal from the Bitcoin hash ribbons.
To me it looks like we are forming an Cup & handle, if so measured move and target would be 80k.. If BTC breakout ATH, BTC definitely goes wild!
In my opinion the correction we had to 40k was a retest of our breakout, same happened in previous cycles. And sentiment was bearish, people calling for 20k.. market usually do the opposite.
It was not easy I was also feeling bearish, but this was my gameplan, it's working so far :)
Update:
The signals are my own custom trading strategy, YTD 3 wins 1 loss, made a script in tradingview to visualize it :) See this post for all signals on BTC+ETH from january 2019 -> BTC update - Bitcoin Hash ribbons gave a buy signal – is 2nd alt season incoming? BAT/USDT trade alert!"
Whats next, I have no idea, just playing lvl for lvl and letting price action show me. But funding was favoring bullishness and it still is, so i guess we are going up with minor pullbacks until it flips. If we breakout the neckline in the cup&handle and confirms it on a retest, well skys the limit i guess..
Hope you enjoyed the read and leave a comment, are we bullish or not?
Please do follow if you want to keep up with my next trade post. Any upvotes or reblogs are hugely appreciated!
Latest crypto post, check out :
BTC update - Bitcoin Hash ribbons gave a buy signal – is 2nd alt season incoming? BAT/USDT trade alert!"
Christopher
Kristiansand, Norway
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