Bitcoin - Fakeout? MUST WATCH !!

14 Okt 2024

A recent surge in the price of BTC is sparking hope for that final impulse wave UP I've been talking about. However, there's a catch - one KEY thing will need to happen in order to convince me this is not just a fakeout, aimed at liquidating shorts.

The previous BTC update was focused on two scenarios, with the GREEN showing a possibility of realizing:

Reclaiming the moving averages in the daily is a good sign - but again, we've been falling under-and-over for the last few weeks, unable to stay above the 200d MA for longer than a few days:


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BTCUSDT

16 Okt 2024

Catatan

BTC Update: Bullish W-Bottom in the daily(check✅). Breakout and close above the diagonal resistance (check✅).
We now need to see a close ABOVE this zone to break the trend of lower highs, thereby making a "higher high":