BitcoinLong
Bitcoin Howling for the Moon! Harmonic Confirmed!?
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It looks like the harmonic has completed and I have taken a long position. I'm expecting more upside.
My first target is C at around $34,800.
The 2nd target is A at around $38660.
For me, the final target for this harmonic is the 1.618 of the A/D Fib, which is around $42700.
Here is a the 1hr chart pulled back a bit so we can see all the targets.
On the daily chart it appears we have broken out of a descending triangle to the upside.
The dashed lines show me we are likely still in a giant symmetrical triangle, which to me is bullish.
The measured move for the current break puts Bitcoin above $58,000.
The daily with the target and potential date we could reach the target visible.
Bitcoin has me howling for the moon! Owhooooo!
My first target is C at around $34,800.
The 2nd target is A at around $38660.
For me, the final target for this harmonic is the 1.618 of the A/D Fib, which is around $42700.
Here is a the 1hr chart pulled back a bit so we can see all the targets.
On the daily chart it appears we have broken out of a descending triangle to the upside.
The dashed lines show me we are likely still in a giant symmetrical triangle, which to me is bullish.
The measured move for the current break puts Bitcoin above $58,000.
The daily with the target and potential date we could reach the target visible.
Bitcoin has me howling for the moon! Owhooooo!
Note
This is playing out nicely so far. We have hit the first target. I'm looking for a move above the red box of resistance and then a back test to confirm we've flipped it to support. I will likely increase my position and adjust my stop loss to C if this happens, as it will be more confirmation that the harmonic is playing out.
Owhooooo!
Note
Looking at the daily chart...the last time we double bottomed on the green support box we made an almost 25% move. For me, this could be more confirmation of a bullish trend.Owhooooo!
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