Today for the bitcoin price and what we are having here right now for bitcoin. This setup is a millionaire maker opportunity. You might ask yourself once again “what the heck are you talking about?”. I will show you exactly what I’m talking about. I am talking about right now. Of course, I will talk about my plan on bitcoin trading.
My bitcoin long trade still opened almost four hundred thousand dollars in profit, ethereum fifty thousand dollars in profit. Having a similar trade just much smaller over Femax twenty three twenty four thousand dollars in a profit. I will talk about all of that. But, more importantly I wanna tell you exactly what is my game plan, what are my price targets and what am I going to do next year trading wise for bitcoin. Let’s talk about that.
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Let’s talk about bitcoin, let’s talk about my price targets, let’s talk about the setup. I’m talking about the formula. As you can see bitcoin has been going down like crazy and now for the first time since days and weeks. Bitcoin is putting in these beautiful higher lows and higher highs. Of course, that is amazing. However, right now bitcoin is at this very important tipping point I was posting about this exact scenario over on twitter. I’m actually the only one posting about it. Of course, it’s not really conservative. It’s not really a pattern but what we can see is with these higher highs for bitcoin we are setting in something which potentially could potentially go into a parabola with a price target of 28-29 000 US dollars for bitcoin.
However, what we can see here is bitcoin is at this tipping point right now. What we need is right now today or tomorrow the massive break towards the upside if not. Time is running out and chances are getting higher that we are breaking the parabola potential. Of course, we can still like to adjust a little bit here and there but there’s not so much room anymore to adjust of course a little bit. But, we need this break today or tomorrow. If bitcoin is not breaking chances are we are going down for another re-test here at least of the previous low somewhere around about 20-21 000 US dollars.
I am looking for this one last break towards the upset. Of course, I can always be wrong here and I am having, of course, my trading setups in plan. If we are breaking this parabola here towards, sideways, downside. Of course, I’m not gonna scale this one higher. I’m gonna wait patiently here and if we break lower maybe even scale higher at lower price targets. If we catch the previous lows. But, if bitcoin holds this line breaks higher. I am expecting prices of 27-28-29 000 US dollars for bitcoin. This is my trading setup right now and I was talking multiple times about why let me actually go over to this beautiful chart here and show you how much confluence we have here right. I mean Geez, I have to go over the daily candles. We have a lot of confluence coming in not only that. There is a lot of resistance coming in here from the last one and a half years at 27-28 000.
Now we have much more coming. We have something else which is very very interesting coming in here. I mean not only that bitcoin is here literally right now at the most interesting point. I could believe it if we were zooming out this long long white line which is just at the price of bitcoin right now. That’s in 11 years resistance which was previously 11 years support. S, obviously that’s very interesting on a daily basis though the ema ribbon. Let me pull it out here right now. The ema ribbon is not only about to flip bitcoin is exactly fighting with the ema ribbon resistance.
24 000 US dollars is not only one of the most important, one of the most crucial levels to break. It’s also one of the most difficult ones to break. What was the strongest support in the history of bitcoin before is right now turning into the strongest resistance for bitcoin. In the history of bitcoin. This is something we have to understand, so hold your horses. I am getting ready for massive trades for multi-million US dollar stack ups on my previous trades. But, I’m not doing it right now. I don’t wanna get front and center here. I wanna make sure that the market is telling me what I have to do and not that I am telling the market. What to do about this is why these trades are staying dormant right now.
This article is a transcription of a video made by MMCrypto