I said In my last post BTC update - Bitcoin Hash ribbons played out for now, cup&handle forming?
To me it looks like we are forming an Cup & handle, if so measured move and target would be 80k.. If BTC breakout ATH, BTC definitely goes wild!
In the big picture in the chart below we can see the funding has flipped favoring bears, but I belive as we have a breakout we will start a new greed phase that will last until EOY. Greed and fear moves in 3months cycles it seems, so why not. Majority of people were not expecting it, and market usually do the opposite of the crowd.
I think we have completed our 4th corrective wave in elliott wave theory, and has started our final 5th wave that will lead us to a cycle top.
My BTC targets for des is 120k, 180k, 250k. That's unreal if it happens, it's difficult for my mind to comprehend it, but...
Lets have a look at ETH, it has followed the fractal from 2017 to a dot. So im expecting a breakout soon of ATH and starts its next leg up as BTC :)
Ofc, all this can just be the biggest bull trap in history and we dump.. But as long as BTC is above 200 daily MA and in an confirmed bull market I will stick to my plan.
Hope you enjoyed the read and leave a comment, are we bullish or not?
Legal Disclaimer : Never invest more than what you can afford to lose. I am not a financial advisor and I am sharing my opinion based on speculation. This post is for informational purposes only and provides only my personal opinion. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
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Latest crypto post, check out :
BTC update - Bitcoin Hash ribbons gave a buy signal – is 2nd alt season incoming? BAT/USDT trade alert!"
Christopher
Kristiansand, Norway
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