BULLISH BTC CHEATSHEET for the next 12 months- Breakout Emminent

25 Okt 2024

BTC has been forming megaphone bull flag for the last 7 months adding validation to the beautiful CUP & HANDLE it has printed and recently tried to break out of this bull flag in the weekly chart testing the boundaries of the pattern. One may wonder if there is any logical behavior in this price action and some investors like me can point out to WYCKOFF Re-Accumulation happening. If you look closely it has resonated closely to Wyckoff's theory and we may be at the LPS portion of the re-accumulation. Possible breakout to the SOS level or some minor sideways movement for the next days. There has also been the bullish MACD cross on the weekly. Long term targets based on sentiment, seasonality and technical analysis indicate a long term target of 120-130k Dec 2024 and 350-380k Mar-Apr 2025. There have been anomalies that have been considered in this analysis such as the Yen Carry Trade issue. Lately there has been some volatility but I don't expect there to be any lows. Breakout is imminent! Looking to see how this plays out.

27 Okt 2024

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As we head on to the next week, it will be interesting to see how this week's candles closes. The outlook still seems positive and the sideways action cements the possibility of the LPS point in this accumulation. Breakout can happen NEXT WEEK! Looking forward to see the price action happen in real time!

30 Okt 2024

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There can be a new ATH and retest of the breakout afterwards. That's where I believe Bitcoin will go parabolic!

1 Nov 2024

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Seems to be extending its LPS.