Staying with our current chart were looking for new highs to create a new third high trend line and possible new at the highs on overall top price. $40k+ seems parabolic.
This chart seems to be playing nice. I think we may have a good opportunity to push for a new trend line creating a new third ATH and possibly a parabolic pop into the high $40k's in a day or so.
Otherwise we stay on trend or head to a correction.
If we follow the 2018 ATH we should roll into a smaller inverse head and shoulders about the third of the size of the one on the hourly, if we do that. The second inverse head would be in the range of the right shoulder if it forms. If not, we continue and wait for the next play. I have a feeling institutional has the ball and is fluffing crypto, but I'm cautious.
A lot of inverse head and shoulders talk, happens every ATH. So if this is the same inverse I would expect the same outcome as the last 2, a slow upward slop.
I feel like this is a test though, like in 2018.., if retail buying is not supporting the push, then institutional trading has no option, but to return to a price for retail buying to enter and help...
A few ideas I having about the current state of bitcoin. I'm sticking with this chart since it seems to be flowing nicely. Pretty self explanatory.
It's definitely not a we're going parabolic chart, but lets pretend if the correction doesn't happen, its parabolic, but not really, more sideways, maybe $400 trading ranges on the hourly.
Another manipulated chart, thankfully I'm here to impress people and try to do something I have no care about. I'm here for the crypto. This was an idea, and its looking like its playing nice, so far.
Some ideas on what may happen in short trend. I still see a correction in a few days, they way things have been with the online hype, doge to a dollar and all that, BTC may have bought some time.
Trap longs and pay shorts seems to be the cycle, btc just liquidated a ton of shorts, not the whole kit and kabuttle, just the top to clear the road for a nice dive,...
$33,650 tapped on this candle, about $1000 above what we were thinking, still staying on that price for few more hours. We seem to have found the new trend, but its probably really short term, still expecting a correction from the $38.5k tap.
We may be in the cycling of eating longs, then a week or 2 later, eat shorts, this cycle usual plays our 3-4 times, based...
