Looking at the 1D.
We are pretty close to the target set after breaking out of the descending triangle pattern.
The chart that I have been using is from Bitfinex. You might have noticed that other exchanges like coinbase / kraken / binance have a bit different charts that the one from Bitfinex.
They are slightly different especially where USDT doesn't hold it's 1 to 1 peg.
The reason why I mention this is that the blue resistance line that we are about to touch on this chart is lower on Kraken and Binance, and we've already crossed it.
This is a bullish sign.
Either way, smart move is to take profit as the target is almost complete, and then reevaluate when we get more data.
I am still 90% sure that we've already hit bottom and will probably retest it at least once (~3200).
I don't think we are in the bull market yet, I think we will trade sideways in between the pink lines. Where I would accumulate below the pink line and sell above it.
Technical analysis are fluid, as things change the analysis changes. So stay tuned for further updates!!
We are pretty close to the target set after breaking out of the descending triangle pattern.
The chart that I have been using is from Bitfinex. You might have noticed that other exchanges like coinbase / kraken / binance have a bit different charts that the one from Bitfinex.
They are slightly different especially where USDT doesn't hold it's 1 to 1 peg.
The reason why I mention this is that the blue resistance line that we are about to touch on this chart is lower on Kraken and Binance, and we've already crossed it.
This is a bullish sign.
Either way, smart move is to take profit as the target is almost complete, and then reevaluate when we get more data.
I am still 90% sure that we've already hit bottom and will probably retest it at least once (~3200).
I don't think we are in the bull market yet, I think we will trade sideways in between the pink lines. Where I would accumulate below the pink line and sell above it.
Technical analysis are fluid, as things change the analysis changes. So stay tuned for further updates!!
