Read on Twitter
An update on price action of #BTC 
.
TLDR: Although #BTC didn't attain a new ATH on 4/7, its price action is still bullish as it is trading within a bull flag.
Price target remains: $64K-$79K
Timing for $79K: If #BTC trades to the top of the ascending parallel channel on 4/19.
.TLDR: Although #BTC
didn't attain a new ATH on 4/7, its price action is still bullish as it is trading within a bull flag.Price target remains: $64K-$79K
Timing for $79K: If #BTC
trades to the top of the ascending parallel channel on 4/19.
#BTC didn't attain a ATH by 4/7, but challenged the bottom of the ascending parallel channel 5 times before bouncing back in it (4hr chart).
The confluence of the bottom of the bull flag and that of the channel provides strong support at $56K.
didn't attain a ATH by 4/7, but challenged the bottom of the ascending parallel channel 5 times before bouncing back in it (4hr chart). The confluence of the bottom of the bull flag and that of the channel provides strong support at $56K.
#BTC is hugging the bottom of the ascending parallel channel. It's expected to snap back inside it should it move to the bottom of the bull flag (purple).
The price action of #BTC looks similar to that from 3/25. If so, it'll trade up to the target of the bull flag (blue)- $64K!
is hugging the bottom of the ascending parallel channel. It's expected to snap back inside it should it move to the bottom of the bull flag (purple).The price action of #BTC
looks similar to that from 3/25. If so, it'll trade up to the target of the bull flag (blue)- $64K!
It seems that #BTC may be forming the bottom of the right shoulder of an inverse head & shoulder pattern (4hr chart).
If #BTC's price flips upward toward the neck line at $60K, this is confirmed. A break above that could send $BTC to $70K & then $72K (cup & handle target).
may be forming the bottom of the right shoulder of an inverse head & shoulder pattern (4hr chart).If #BTC
's price flips upward toward the neck line at $60K, this is confirmed. A break above that could send $BTC to $70K & then $72K (cup & handle target).
It's unclear how #BTC will trade, but if it moves to the top of the channel as projected on 4/19, we could still see $79K. A correction could ensue afterward.
In doing so, #BTC will also reach the targets of the bull flag (blue) ($64K) & that of the cup & handle pattern ($72K).
will trade, but if it moves to the top of the channel as projected on 4/19, we could still see $79K. A correction could ensue afterward.In doing so, #BTC
will also reach the targets of the bull flag (blue) ($64K) & that of the cup & handle pattern ($72K).
