BitcoinLong
Bitcoin weekly chart. A hint at how its price may head very soon
https://www.tradingview.com/x/G1yt0EZ0/
My understanding is that BTCUSD has already broken the breakout top-line of the weekly cup, it was a price at about 73,750. I could be wrong, but approximately correct. This means BTCUSD has broken out already.
This weekly chart of bitcoin contains the famous weekly head n shoulders pattern that first started forming back in 2021 or was it 2022? Either year is long enough.
In the chart you will also see a rising wedge on this weekly chart. Well bitcoin is climbing to the top right now and does not have far to go. USD might be very strong today so it may not be the session for Bitcoin, but Bitcoin is so resilient to the USD that anything is possible and BTCUSD moves fast when it wants.
Price will bounce out of the top of wedge and become independent to formations, before it makes a short retrace and then heads over the critical area which is the Cup top-lining. This will probably happen very quickly but there should be a retest of the breakout zone.
Also, you want to view the price action on a very low time frame, like 1m to 5m. There will probably be a bullish rising wedge that price also moves in before separating and breaking out.
Good luck.
My understanding is that BTCUSD has already broken the breakout top-line of the weekly cup, it was a price at about 73,750. I could be wrong, but approximately correct. This means BTCUSD has broken out already.
This weekly chart of bitcoin contains the famous weekly head n shoulders pattern that first started forming back in 2021 or was it 2022? Either year is long enough.
In the chart you will also see a rising wedge on this weekly chart. Well bitcoin is climbing to the top right now and does not have far to go. USD might be very strong today so it may not be the session for Bitcoin, but Bitcoin is so resilient to the USD that anything is possible and BTCUSD moves fast when it wants.
Price will bounce out of the top of wedge and become independent to formations, before it makes a short retrace and then heads over the critical area which is the Cup top-lining. This will probably happen very quickly but there should be a retest of the breakout zone.
Also, you want to view the price action on a very low time frame, like 1m to 5m. There will probably be a bullish rising wedge that price also moves in before separating and breaking out.
Good luck.
Note
BTCUSD is right now 76,650 going good.Note
BTCUSD just cracked 77,000. Well done. Good work.Note
HERE IT IS. AN HISTORIC MOMENT REALLY. ONE TRADERS OF THE FUTURE WILL MAYBE PONDER. WE WERE HERE.
Bitcoins momentous and definite climb over the 2022 weekly cup and handle pattern. Huge weekly candle I think tells it all of where Bitcoin & Crypto is about to go and by end of year.
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