BTC Expecting Bounce

27 Mar 2023

Expecting price to bounce from support to resistance.

3 Apr 2023

Catatan

Price is going to bounce to 30k+. From what I can observe its entering its last phase. Added more to my position here. Very confident.

6 Apr 2023

Catatan

Opinions on why I don't think this is topping.

1.) There are two waves of structure with targets leading to 30k+. When a wave is created, there is energy behind it. The more waves in the boxed area signal to me a stronger likelihood of a target being reached.

2.) The consolidation after the pump, with tightening highs and lows, has Phase D accumulation characteristics.

3.) The Monte Carlo Fallacy, otherwise known as the Gamblers Fallacy, is a general concept I have applied to trading. The majority of bettors do not believe the market can keep moving in one direction consistently. However, to me, it is a general fallacy as the trend is bullish until we hit a significant rejection or significant target.

4.) We have still failed to break the significant lows in the consolidation. If we can close under 26.5k, I would reassess my bias.

In short, I believe 30k will be reached.