Zooming out to the daily. Key trend lines. Big picture.

Daily uptrend intact, making higher lows since early February. If this continues, we should meet the downtrend line from ATH before April 1st. Will take big volume to break, so if V doesn't increase significantly, I could see us reject off that trend line and test the lower line at around 3600. Big triangle from secondary downtrend line from $11.7k could resolve by early/mid June. Maybe by then, fundamentals like Bakkt launch, ETF, who knows what else, might come into play to take us up past 4200 and pay out the A&E or C&H, or down toward cheaper Bitcoin. Good luck, safe trading.

Commentaire:

Nice to look back her to see what happened. On March 25, we broke down from the ascending wedge, but over the next week retraced the breakdown and broke through the downtrend line from ATH with massive volume, validating the A&E formation all the way to 4800 in one daily candle. Followed up by a week of mostly green candles. We have been painting an ascending triangle, testing 5300 level a few times with a breakout above, and then a hard retrace to 5200 where we bounced. Currently holding 5300- let's see where the day ends.