Hello Crypto Friends!
After hours of analyzing, i think i have come to a conclusion of where BTC is heading.
Lets start with the daily
We met the target for the falling wedge. Can put a tick on that one.
Now we have fallen out of the rising wedge.
I have made a target for this. Lets see if any confluence -
Golden pocket... Very nice!!
Alright, makes sense. Lets zoom in see what is happening on the 4hr.
Ok, a falling wedge... That would put us back up at $10,400 or thereabouts.
So we might be looking to put in a double top/backtest the falling wedge.
Might look something like....
Then a heavy rejection -
What pattern does that look like!?
Not another Head and Shoulder!!
What would the target be for that?
The 0.5 fib. Which will also line up with 100MA on the daily.
But hang on a second, what about the 200 MA on the daily won't that be our mega support!!?
Well maybe, that creates a bounce, which then back-tests the neckline of the H+S.
Only to get rejected heavily, and putting us in the Golden Pocket, which i imagine will be a very fast bounce right back up into the 8-9k region.
Then we will again Rise upwards and onwards.
You might be saying, "this guy is crazy! Noway will we get back into the 7k region!" Well there are gaps to fill on the CME chart. The market is heavily over Long.
The market makers will see this a great opportunity to shake out the weak hands, and make a lot of BTC doing it too.
We also have the One Token, still ready to dump on us.
We might also have some big players that missed the bottom and want to get in on it.
Lets see how this prediction plays out.
Happy Trading!!