Asymmetric inverse head and shoulder pattern: due to the pattern being super-imposed over a significantly upward moving baseline trend, propelled by inflation fueled by the global money printing?
Another point/consideration to add to the bullish narrative.
SEE ALSO: BTC:USD -- Acceleration gaining, pulling up Momentum.
Determining if we are in a Bull/Bear market
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BTC price looking over extended on the 3 hrly on PRISM Oscillators, and might come down again to retest ichicloud and ~50 SMA (and which also is at the 78.6% Fib) at 11.5kUSD IMO.
However hourly momentum picking up again, and oversold on that timeframe according the the PRISM oscillators.
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Long-term target range:
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Target:Between 16.5k-17.5kUSD
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Caution for the shorter term: PRISM Stochs of pRSI oscillator still in overbought state. However, the AJ-ribbon looks to be reversing upwards now, which will pull momentum (which have been dwindling) up ahead.