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SCENARIO 2- BITCOIN WEEKLY CHART (STRONG BULLISH MOMENTUM)
In this analysis I see a Cup and Handle formation likewise a Bull Flag formation ((more reason why I foresaw next (highs) target for Bitcoin to be within the 100k-104k range i.e. Price Objective for Flag pattern)).
Range bound Price objective met 81k-82k.
As for Cup & handle price objective sits at 125k.
Let's see how Price Action unfolds in the coming weeks and months.
Bitcoin has gathered strong momentum to the upside. No doubt there will be retracements on its journey but caution is required if & when SHORTING Bitcoin at this time.
RECAP on Bullish Chart Patterns
1. Range breakout
2. Bull Flag
3. Cup & Handle.
Range bound Price objective met 81k-82k.
As for Cup & handle price objective sits at 125k.
Let's see how Price Action unfolds in the coming weeks and months.
Bitcoin has gathered strong momentum to the upside. No doubt there will be retracements on its journey but caution is required if & when SHORTING Bitcoin at this time.
RECAP on Bullish Chart Patterns
1. Range breakout
2. Bull Flag
3. Cup & Handle.
Nota
100k-104k range target for Bull flag Price Objective (PO) met.
Could we see PO for Cup & handle soonest?
Nota
Prior to meeting PO for Cup & Handle Pattern, A broadening wedge pattern has formed which could take us down to 91k and 87k respectively before gathering momentum back up. Keep an eye on PA
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