BTC eyeing $110,000 Confirming the Major Flag Pattern Since Febr
Actualizado
Since February, a significant flag pattern has developed in Bitcoin's trading behavior, and we've just witnessed its confirmation. This pattern indicates strong continuation potential, suggesting that the price could surge higher. It's not too late to enter the market; there's still an opportunity to capitalize on this movement.
In shorter term: as Bitcoin approaches its all-time high, and it has begun a nice correction.
Ideally, it would maintain minimal correction above $68,000 and increasingly form some type of contracting pattern. Regardless of the specific shape of the contraction, the longer it lasts, the better, even up to 1-2 weeks.
After that, the next target price is $110,000!!! If you don't want to miss out, you can start buying during the contraction with a very tight stop loss at the bottom of the sideways movement. However, be prepared for potential sharp drops.
Timing is also crucial; it could reach this within a month. It's a long time to stay in a trade for a month, but in this case, I think it's worth it...
In shorter term: as Bitcoin approaches its all-time high, and it has begun a nice correction.
Ideally, it would maintain minimal correction above $68,000 and increasingly form some type of contracting pattern. Regardless of the specific shape of the contraction, the longer it lasts, the better, even up to 1-2 weeks.
After that, the next target price is $110,000!!! If you don't want to miss out, you can start buying during the contraction with a very tight stop loss at the bottom of the sideways movement. However, be prepared for potential sharp drops.
Timing is also crucial; it could reach this within a month. It's a long time to stay in a trade for a month, but in this case, I think it's worth it...
Operación activa
We're having a calm weekend, as expected. My orders at the $68,000 and $67,000 levels were filled, and I’ve reopened the position I closed a few days ago around $71000. Another sharp drop is still in the cards, but starting Monday, I can expect it to begin moving upward with strong momentum. It might take a few days or even a week to pick up. Once it starts and heads toward a new ATH, the stop loss can be raised to the $70,000 level. If it gets pushed back to this level again, then 'these aren't the droids you're looking for.'Nota
It seems like the price has nicely started moving upward. It turned down from $70,000, and from that point, classic technical analysis offered little guidance: it did not maintain the daily RSI trend. The H4 RSI broke out, yet the price was still pushed back down. It could be said that this triangle-like contracting pattern merely consolidated amidst random movements. The reason I didn't close out is that the upward phases are visibly stronger. The downward corrections lack a clear direction and have consolidated within a very small range, which is a positive sign. So, hopefully, this week we will reach the new ATH.
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