Best buy zone for Bitcoin's breakout / up to 12 months rally!
Updated
https://www.tradingview.com/x/ukby3i1v/
You might've noticed Bitcoin is back on the brakes lately, a few green false starts here and there that turn out to be bull-traps for short term traders.
But what if you want to accumulate Bitcoin BTCUSD over the coming weeks to really dig-deep in its price so that you are setup nice for its rally.
Well some expert Bitcoin commentators are saying that it's price may have to wind back to 55,000 for the serious bull-bitcoin-buyers to return to setup and stage the rally. By the way, 55,000 price also coincides with the median daily buy order block you will see in my chart diagram.
But the reality is that BTCUSD may not get that low again at the 55,000 level, now the Golden-zone Fib level from a Daily chart is about 57500 to 59500.
Currently the Bitcoin price has bounced off the 200EMA to hold it up for now, but I think Bitcoin will wind back some more over the coming days into one of these bigger buy demand zones and it will happen very fast when Bitcoin will soldier on up to the 73,802 neckline which represents the breakout point of a 5 year massive cup and handle formation.
Below is the big-picture Weekly, including the massive Cup & handle pattern.
You might've noticed Bitcoin is back on the brakes lately, a few green false starts here and there that turn out to be bull-traps for short term traders.
But what if you want to accumulate Bitcoin BTCUSD over the coming weeks to really dig-deep in its price so that you are setup nice for its rally.
Well some expert Bitcoin commentators are saying that it's price may have to wind back to 55,000 for the serious bull-bitcoin-buyers to return to setup and stage the rally. By the way, 55,000 price also coincides with the median daily buy order block you will see in my chart diagram.
But the reality is that BTCUSD may not get that low again at the 55,000 level, now the Golden-zone Fib level from a Daily chart is about 57500 to 59500.
Currently the Bitcoin price has bounced off the 200EMA to hold it up for now, but I think Bitcoin will wind back some more over the coming days into one of these bigger buy demand zones and it will happen very fast when Bitcoin will soldier on up to the 73,802 neckline which represents the breakout point of a 5 year massive cup and handle formation.
Below is the big-picture Weekly, including the massive Cup & handle pattern.
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2 BIG GREEN DAYS IN A ROW FOR CRYPTOCURRENCY!
That is a rare event. Maybe there's something bigger happening in the Bitcoin/Crypto forces and I am wondering if a cycle bottom was made earlier in the week and it now gets set to break out.
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