JoE

Bitcoin going to $9,000

Lång
JoE Uppdaterad   
BITMEX:XBTUSD.P   Bitcoin
We might be out of the woods alongside with the US equity market, judging by $M2 and many other factors.

We've seen H&S quickly evolved into the recent shortage of dollar supply which lead to a temporary dragdown across the board, and later being resolved by FRB promising 'infinite money supply'.

We are currently forming a Inverse H&S pattern with a measured target of $9,000, it will be confirmed once we get across $7,000 resistance.

Statistically, this pattern has a success rate of 72.77%, the validity of it has been verified by diminishing volume into the breakout and the recent strong price action.

Longer term speaking we are at accumulation levels and has a great potential to grow from here. Historically it will hit the peak a year after halving happens.

However we should be prepared to see 'sell the news' near that halving event day, use low or no leverage.

###This is not an investment advice, trade with care with your own risk!###
Handel aktiv:
Soonish
Handel aktiv:
It's half way there, right under a key resistance. We'll continue rallying as long as the S&P500 don't go below the Adam&Eve neckline. Everything seems to be breaking out today.
Kommentera:
Retest of neckline support done. Bought more. Moved stop to $6460

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