Folks. I don't usually go all click-baity on you, but I'm telling you, everything is lining up perfectly for a HUGE market move to come this weekend! I am trying not to get too excited because I know it definitely influences my bias. I should be creating objective reports here for you. And I do my best to do that. But these charts are telling me that sometime today or tomorrow, we're going to take off. Could I be wrong? Absolutely. Never trust any one analyst. Always do you're own research. And always trade carefully and with caution.
With those disclaimers out of the way, let me show you what I've got:
First off, almost as soon as I had posted about Bitcoin's bearish scenario (the two ascending wedges), we started to break. Broke both of them and now we are currently hitting the predicted buy zone area.
I expect BTC wants to kiss that 50 day moving average before a send off for another month or so plus.
The reason this area is so prime for buyers is because that 50 day moving average intersects precisely with our BLUE downtrend line from Jan.
These two intersecting will provide us with key support.
Combine these two factors with basically a week straight of selling, and we add more to the case for a bull set up.
Also, we seem to be at the end (kind of an iffy theory) of another cycle. Interestingly, this coincides exactly with the weekend. More often than not, we have some good push upwards through the weekends. I expect this weekend to be no different.
Finally, we are hitting another good support on my RSI.
All in all, there are a lot of combining indicators causing me to become super bullish into this next week and possibly as soon as this weekend. Get ready all!
Peace and happy trades!
PREVIOUS POST: Some pullback on BTC in the coming week(s). Then all systems go!
UPDATE (FRI 09:23 EST):
...and I didn't even mention this inverted H&S potential! Dang!
Also, the fact that I am getting no love so far on this post, tells me everyone is bearish. We're going up! Soon! Buy that fear!
