Bitcoin Flipping Bullish: A Possible Spring Swing Outlook
Hi Tradingview. I haven't published an idea since Bitcoin broke above 10k back in 2020, and I think we all know what happened since then.
As we are looking at another developing Macro swing, let's take a look at this harmonic pattern potentially unfolding on the 3 day timeframe.
The Stoch RSI has flipped extremely bullish and the RSI is pointing up at the midpoint of 50, typically a breakout at this level of the RSI with volume is a very bullish sign.
The Williams Alligator has not yet confirmed bullish on the 3 day, but it is pointing up, and has flipped bullish if you drill down into the 1 day time frame with it.
The chart is showing us not only that harmonic pattern, but also a rather exaggerated cup and handle with a fairly obvious neckline playing out inside it. That neckline around 69000 if broken could take us to just below the 100k level by around 4/22. The fibonacci golden ratio target for that macro swing high measured price move would be around 94,129.
Please share your feedback, negative or positive, and give this an upvote if you find it useful.
Thanks for reading, good luck, and good health.
Rom
As we are looking at another developing Macro swing, let's take a look at this harmonic pattern potentially unfolding on the 3 day timeframe.
The Stoch RSI has flipped extremely bullish and the RSI is pointing up at the midpoint of 50, typically a breakout at this level of the RSI with volume is a very bullish sign.
The Williams Alligator has not yet confirmed bullish on the 3 day, but it is pointing up, and has flipped bullish if you drill down into the 1 day time frame with it.
The chart is showing us not only that harmonic pattern, but also a rather exaggerated cup and handle with a fairly obvious neckline playing out inside it. That neckline around 69000 if broken could take us to just below the 100k level by around 4/22. The fibonacci golden ratio target for that macro swing high measured price move would be around 94,129.
Please share your feedback, negative or positive, and give this an upvote if you find it useful.
Thanks for reading, good luck, and good health.
Rom
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