We might have another bullrun before we see 5k. That is NOT the end of the bear market, it's a breather. Don't be afraid to buy at these prices and be ready to short again if we hit target.
Facts:
- W bottom / inverse H&S in the making
- breakout of falling wedge. Breakout target of falling wedge will be around 10,000 - 11,000 $.
- aligns with timeframe of 2014 bullrun where price went 1.5x (see fractal)
Candle needs to close above 7500 to confirm. If you're an aggressive trader, you might just buy if we fall back to the linear uptrend line at around 6800.
Facts:
- W bottom / inverse H&S in the making
- breakout of falling wedge. Breakout target of falling wedge will be around 10,000 - 11,000 $.
- aligns with timeframe of 2014 bullrun where price went 1.5x (see fractal)
Candle needs to close above 7500 to confirm. If you're an aggressive trader, you might just buy if we fall back to the linear uptrend line at around 6800.
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Watch trendline - we MIGHT still go down to 5900 to fill some gaps before breakout! Still, R/R to short here is not too great IMO.
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Trade active