Bitcoin Moons Again!

Dec 17, 2020

Bitcoin smashed through all time highs and through the 20K and 21K handles. It has finally stopped for air around 22.7K, which is a Fibonacci extension. These are really the only way to predict profit targets when bitcoin moons. Observe that this ascent has created a huge vacuum zone which BTC is likely to fill at some point. Typically, Bitcoin will grow exponentially, then form a dragon head pattern (ghostsquawk exclusive technical pattern), before bursting out higher. The Kovach OBV and Kovach Chande are both overbought at this point, suggesting you missed your chance for a long trade, but any dip should be considered a buying opportunity.