Keeping this short and sweet…chart speaks for itself.
We are building a range in the accumulation zone (grey box). This base is getting stronger and wider before we blow up north. Obvious signs that we hit the bottom already and we are now building the foundation needed for take off.
BTC is respecting the ascending triangle supports. This is a continuation pattern and most successful in a up trend (which we are in).
I do believe we could hit the triangle ceiling and support another time before we break out in a bull wave 5 move. We will test the prior resistance at $4,200 and change. From there we could go into a sideways ABC pattern, before the inverse H&S pattern play out and we retest 5.8k.
PS – for my followers who bought with me at 5.2-5.3. Our plan still is still active at holding current stop profit at the chart levels. If bitcoin does break out we should move 50% of our positions to a higher stop. We’ll clarify on levels if and when this happens.
slight change. I believe wave 5 will test the 4.4k range before going into a relatively flat ABC correction.
going as planned