The last post I made we were discussing whether this will be another short bull rally and that the top has been reached. Well, now we know, the bull market isn’t over yet with 95% confidence.
So our goal now is to take advantage of these pitstops to earn some profit selling and then re-buying or what you call shorting/ fading the market.
Let’s talk about triangles and letter “M”. Bitcoin loves making triangles and Ms every so often at some price level.
Now study the following chart, this chart will guide you on where the price action will start forming a triangle. Another thing to consider is the dump fib retracement which I discussed at the last post. Bitcoin bounces to 0.5 to 0.786 levels all the time, that puts the price of $52k to $54k as a target.