Price looks very clear to be forming a very strong price reversal support pattern (head & shoulders).
Currently, as we can see, price filled the #FVG and retested the major support zone. Therefore, the price is now still accumulating more bullish momentum, and possibly it will fly at any time.
In that case, I entered my long position $0.1400- $0.2000 and am looking at $0.5000 as my mid- target zone for this loading bullish rally.
We can see a strong price reversal support (head & shoulder) and recently pumped about +150% from the support neckline upto the mid- term resistance R2.
As price failed to hold that resistance level, so far we are seeing about -60% correction and price is retesting the support neckline.
In respect to the descending channel, higher chances project the price will hold above the support neckline just as it accumulates more bullish momentum.
There fore, I am currently and closely looking at $0.03400- $0.04000 for my swing long position.
Possibly price will reverse from the zone, then I will be looking at around $0.15000- $0.2000 as my target area for this upcoming mid bullish rally.
So far price spent a very long time accumulating in this bear channel #BullishFlag
so at the moment as we are closing this month as well as this week, we looking at if price closes the monthly candlestick above $65k. So therefore, I have a long position already into play in the range $68k- $70.
So far in the upcoming #BullMarket phase 2 am expecting #Bitcoin price to touch $120k.
Currently -75% price correction looks possible and if it successfully retests the support zone, there we shall have confirmed a very strong bullish reversal support pattern (Adam & Eve ).
So far i am focusing much on green arrow zone (horizontal support as well as the descending support trendline) $0.1000- $0.1600 for my swing long position.
⚠️At the moment, the market is selling the news (this happened for #BTC ETF as well).
What is gonna happen next? 👇
TO BE CLEAR: 🎤This does not mean they will begin trading today or tomorrow.
👀This is just 19b-4 approval. They also require listing to trading platforms as well as approval of the S-1 documents, which are going to some take time.
👉Meanwhile, in the long term, when the ETF gets listed, there will be a lot of liguid inflow into the market.
↗️↙️As we can see on the chart, possibly the price may continue accumulating in the existing ascending manner along the support trendline until all events are clear done for permanent breakout above the existing resistance.
Though again, if price gives us a third hand on the major support box, then the price will have formed a strong bullish reversal support pattern #TripleBottoms .
Therefore, price momentum looks stronger at the bullish side, and i am looking at entering my long position around $0.3500- $0.5000.