Today for the Bitcoin price and yes guys something absolutely crazy is going to happen to Bitcoin. I will talk about my 100 Bitcoin multi-million US solar trade. I am having an open on Bitcoin a long trade, I will talk about my price targets. But more importantly, I want to talk about what is going to happen to Bitcoin right now in the immediate short term. I will go into the charts and show you one price pattern that no one is talking about. I don’t know why no one is talking about it. We will talk about it today. I want to tell you exactly what I think is going to happen right now to Bitcoin.
Let’s talk about the Bitcoin price, let’s talk about what is going to happen and we will talk about my Bitcoin trade as well. Right now wrecking in you can see it. I open just the whole details 187 000 US dollars in a profit on this trade. You can see my entry price around 19 100 on average and, of course, if you go back here. I have the next long order already open 21 Bitcoin on this trade. Of course, people are calling me crazy. They are laughing at me, they are almost spitting while laughing. But, of course, I have a good reason why I’m in this trade. You can see what looks like an inverse head and shoulders breakout.
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I wanna tell you hold your horses – don’t be too quick with it. I love to be bullish, especially, when I’m in a long position myself. But here we have to be very cautious because if we are going in you can treat it. This is actually the more conservative treatment can treat it as a W pattern right. I mean it’s not necessarily an inverse set and shoulders. If it’s a W pattern you have a horizontal neckline and we did not break it. Also we are on a weekend also the volume is not coming, so be very cautious here: “Yes, we broke out”. And the price target of this breakout would be approximately around 26 000.
But we didn’t break out like all the time frames, we didn’t break both patterns. We just broke the inverse head and shoulders pattern, so if you’re going into a long position here. You have to be very cautious, I’m not cautious because I already went in at 19 000. But if you go in right now be cautious also pulling out the ema ribbon you can see yes Bitcoin is above it but we did not flip the ribbon yet when Bitcoin flips the ribbon, when it’s Monday or Tuesday, when there’s volume coming in and when we also broke the neckline of approximately 21 300 US dollars.
This, dear ladies and gentlemen, is the moment when I am going to get much more bullish on Bitcoin in the immediate short term right now. I’m very very cautious on Bitcoin right now. I’m in a long position, but I’m not quoting 26 000 something unless we are fulfilling all of the requirements. I just mentioned to you and if you are not in a position right now. Of course, after the trade is before the trade, there is a possibility coming in, but, please, dear ladies and gentlemen, wait we are producing higher lows, we are not producing higher highs yet.
I personally would only go in after breaking the 21 300, breaking the previous higher 21 600 and having a confirmation of the W neckline. After this is happening – yes. That’s when I would personally open a new trade or when I would scale up even my own trade to all the way up to 26 and 500 US dollars.
This article is a transcription of a video made by MMCrypto
Original video: https://youtu.be/omdUXcC9Pnw