Just a slight update to my previous BTC idea that is tracking well.
I expect a weekly close above this fib resistance, and then a small rally to get people FOMOing in. Price should then take another dump to the trendline to get people scared.
If this happens, I will be looking for a wick to the trendline, and a weekly close on the support line from the previous ATH at around $42,000.
Alternatively, we dump straight to that trendline in the next 2 days and close the week on support at $42k.
If neither of these happen in the next 2 days, this idea is invalidated. But it's been working almost perfectly so far, so I'm sticking with it.
I expect a weekly close above this fib resistance, and then a small rally to get people FOMOing in. Price should then take another dump to the trendline to get people scared.
If this happens, I will be looking for a wick to the trendline, and a weekly close on the support line from the previous ATH at around $42,000.
Alternatively, we dump straight to that trendline in the next 2 days and close the week on support at $42k.
If neither of these happen in the next 2 days, this idea is invalidated. But it's been working almost perfectly so far, so I'm sticking with it.
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TradingView always makes my text and arrows overlap, not sure how to stop that. Apologies. It should be legible anyway.
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Looking good
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If BTC fails to break out here, it might be a good idea to short down to the trendline
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If it breaks out, consolidation should be over and we'll continue up from here