My overall 2022 target got hit - $16k. But I was awaiting this last dip before a relief rally - although that one got defended by bulls and it never happened.
New Year euphoria took over and we're headed directly into the relief rally - I expect now a retracement to around $19k to create the handle of this cupandhandle pattern . Next step would be the skyrocketing move of this accumulation (and fractal confirms) to $ 25k-28k. Leverage positions show a big gap between 28 and 33k - So I am pretty confident we can experience a liquidity grab all the way to 28k area, but we possibly won't see enough fuel to get to above $33k - unless horny bears will keep shorting.
Timespan: This handle dip should get created until 25 Jan - 01 Feb, and the squeeze should happen just after - during the first half of February.
I expect FED to start cutting rates and markets to start going down big time from there.
Will keep monitoring this. Good luck !
New Year euphoria took over and we're headed directly into the relief rally - I expect now a retracement to around $19k to create the handle of this cupandhandle pattern . Next step would be the skyrocketing move of this accumulation (and fractal confirms) to $ 25k-28k. Leverage positions show a big gap between 28 and 33k - So I am pretty confident we can experience a liquidity grab all the way to 28k area, but we possibly won't see enough fuel to get to above $33k - unless horny bears will keep shorting.
Timespan: This handle dip should get created until 25 Jan - 01 Feb, and the squeeze should happen just after - during the first half of February.
I expect FED to start cutting rates and markets to start going down big time from there.
Will keep monitoring this. Good luck !