BTC Broke the massive DownWedge, but dont count chickens yet....
[Labels from previous Idea posted attached below]
BTC has repeatedly confirmed various levels above the ~$6,500 s If this support and has shown serious bullish strength since breaking above the Mega DownWedge of Summer 2019. So far, Phase E is holding through this DownWedge. If this holds, and this strength continues, the next stop up ($8,000, 8,200, 8,400, or 8,900) will be followed by a big sell off we should all enjoy. If that sell lands at $7,200 or greater, we'll see a bounce back up with another confirmation of the new market support. This will likely spawn an entirely new Bull Rush above $9,000 or even up to $13,000 to match the previous market's high. If the sell to $7,200 fails, expect a very steep run back down to retest $6,500 followed by a lot of volatility between there and $7,200.
Please forgive the lack of formatting and illustration. Heavily distracted right now ;)
Happy New Year. If you;re not swing trading now, you'd better get on at the next dip.
BTC has repeatedly confirmed various levels above the ~$6,500 s If this support and has shown serious bullish strength since breaking above the Mega DownWedge of Summer 2019. So far, Phase E is holding through this DownWedge. If this holds, and this strength continues, the next stop up ($8,000, 8,200, 8,400, or 8,900) will be followed by a big sell off we should all enjoy. If that sell lands at $7,200 or greater, we'll see a bounce back up with another confirmation of the new market support. This will likely spawn an entirely new Bull Rush above $9,000 or even up to $13,000 to match the previous market's high. If the sell to $7,200 fails, expect a very steep run back down to retest $6,500 followed by a lot of volatility between there and $7,200.
Please forgive the lack of formatting and illustration. Heavily distracted right now ;)
Happy New Year. If you;re not swing trading now, you'd better get on at the next dip.
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