witnessing art here i swear , love the beauty of a breakout so here is the mona lisa of cryptos for you :
of course, in order for this breakout to be sustained, prices must stay above the trend line and not re-enter.
As this breakout has occurred there is a higher chance my BULLISH scenario i have discussed for a few days now is in play, with the next target being the neckline of the inverted H&S.
So far we are getting extremely close to the neckline!! if this is to play out correctly we should hit and break the neckline and see a huge impulsive wave upwards!! Out of here!
The Target of this H&S is huge.. so i am honestly expecting the next few waves to play out extremely violently and just hammer upwards! eventually this should target and hit $19,000 region. WHICH IS MASSIVE
However there are still bearish things to think about, i myself am still waiting for confirmation of a couple lines before i make any entries as i just want to enter and have 90% or more confirmation that we are riding upwards .
If waiting on the sidelines , the main things to watch are really these THREE LINES
- TREND LINE
- INVERTED H&S NECKLINE
- THE 12k LINE
I myself am waiting for prices to move a bit closer to the neckline and have 100% confirmation that we are not returning into the trend line we were previously in before i set up a few long alts. Although i miss out on some cheaper prices, the risk is not worth it.
SO, keep an eye out on the H&S and lets see how things play out !!
Legal Disclaimer: I have no idea what I'm doing and I'm not telling you to follow me or make investments based on this information, this is just my thoughts and ideas and what ill be following. Happy Trading!!