BTC: ready for a new impulse?

BTC PARABOLA UPDATE // one of my best charts to date in my opinion, that maps out the whole parabolic movement from breaking last's bull market's ATH to now (purple trendline); support at corona dump and now resistance (red line) and the green line is the parabolic curve. So whats the deal with BTC now?

CRUCIAL DEVELOPMENTS FOR BTC

First off, BTC has frustrated me a lot these last weeks as I was too close to the action but when in doubt; zoom out! So we are perfectly on track for more upside, however we are at a crucial point in this the bull run. Why?

- We are over 75% in the rising wedge dating from last december and the next pump or dump will decide whether we break up or down out of this wedge.
- We are supposed to be at the end of this correction; we just printed the second W below the purple trendline which indicates the end of a correction or at least did so ever since decmeber 2020.
- Our next pump has a a target above the resistance line and it will be interesting to see if it can break this resistance and flip it into support; if so we will start the steep curve in the parabola that will lead us to a 100K+ target.

TARGETS FOR CONFIRMATION

Once we get above the purple trendline, approximately 59,1 / 59,6K and hold it as support we will take off for our next impulse to a new ATH, if we do not break it we will correct further and we need to hope for support at lower levels that keep us within the parabolic zone and a new impulse to the upside. For now, zero reason for fud, lets wait for confirmation and off we go. Little sidenote: the alt mania is bad for BTC and potentially threatens the bull run; we need a healthy BTC to continue gains in alts and BTC. Second sidenote: we need to keep an eye on the stock market to see if there is more room to the upside, markets start to look overextended and have quite a few gaps below them and it is something I dont like, however these gaps dont mean that much for the upside. They are interesting for when the bear market starts because they will get filled on the SPX500 and some on the BTC1! chart aswell.

YOUR OPINION: I am happy to hear your opinion in the comments and appreciate your support for my analysis, cheers!

IMPORTANT: this is not financial advice, trade or invest at your own risk and research.

Komentarz:

BTC UPDATE: bounce from 56K support forming double bottom:

Komentarz:

BTC BREAKOUT: I said this on April 7 in my post above: "Once we get above the purple trendline, approximately 59,1 / 59,6K and hold it as support we will take off for our next impulse to a new ATH" // Now press play on my chart and look where the breakout happened. EXACTLY at my purple line that was converted into support. Doesnt get any better than this guys... BTC has just started, we can see 68-70K this week and if and only if we break that red line; oh my god; we will go parabolic towards the 100K. Thats not a joke! Be ready and make sure you are in position. I think youre late with leverage but you dont have to be greedy, you can make enough money on spot aswell. (not financial advice, follow your own strategy, this is just educational for your learning)