I've been watching this pattern for the last few days on the sidelines expecting an ALT squeeze before the next leg up.
- There are many similarities to historical patterns and this looks like an accumulation point / Stop hunt. Possible inverse H&S
- This last dip -today - Historically this play will only last (on the 2 hourly) around 3 bars and BTC should hold this level - close of hourly under $44k would invalidate it.
--- Safest Long, Break of $46k. 4% to5%
--- Risky long, Here but with tight stops. 10%
--- Target is around $49k but might get rejected at $48,200
Just an Idea. B, Hard Forky
To emphasise this point here is my SOL chart for target: $140
- There are many similarities to historical patterns and this looks like an accumulation point / Stop hunt. Possible inverse H&S
- This last dip -today - Historically this play will only last (on the 2 hourly) around 3 bars and BTC should hold this level - close of hourly under $44k would invalidate it.
--- Safest Long, Break of $46k. 4% to5%
--- Risky long, Here but with tight stops. 10%
--- Target is around $49k but might get rejected at $48,200
Just an Idea. B, Hard Forky
To emphasise this point here is my SOL chart for target: $140
Note
Close to conclusionNote
LTC - some shizzle you just can't plan for :)Note
Well, still on target.Note
Looked into today's price action - I'm not one for conspiracy theories but if this pumps to plan in the coming hours then I am in awe of the Market Maker's skill to create a false narrative to stun and disarm traders before the big move.To hack Twitter and set a Red Herring to create fear, uncertainty and doubt may perhaps be crossing a line in news manipulation. The resulting confusion from the move neutralises traders from taking risk.
Clean LONG entry is approaching in the next few hours. TP $50k
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.