$BTC "Bitcoin" - A picture tells a thousand words...

Hey Everyone~ The chart is of BTC/USDT (Binance Exchange, so references to $ value is based off BTC's value on Binance.)

So we're here, we're at the make or break point for BTC.

We're currently in a massive wedge on the daily time frame. I believe we'll be waiting for the daily close (Due in 22.5hrs). Shortly after the daily close, we'll see some action. The daily close also happens to fall on a Monday (Australia), which is the weekly close.

In this picture we can see many scenarios playing out..

The first one is the highly discussed Inverted Head and Shoulders Pattern.

If we break to the upside and get a large injection of volume, we will have a successful play out of this Inverted Head and Shoulders Pattern. This does not mean we're automatically bullish, or will hold above. It just means, we broke resistance for now. NEVER BE STATIC IN YOUR STANCE, BECAUSE THIS IS NOT A STATIC MARKET ISN'T. Trade the trend.



The second one is Fibonacci levels, and where confluence lays.
Based on multiple layouts of Fibonacci, we can see there is heavy resistance around the $3,800 range. If we do break that, which is the 61.8% Golden Pocket, we could run nicely to $3,950. If this occurs it's the right shoulder completing, and we would have $4,841.80 as our target to reach.
If we fall from here, the I H & S fails, so the minor confluence around the $3,650 range will most likely fail, and we'd see retracement down to the $3,400 range. If this fails, we'd be looking to retest the low of $3,156.26.



If we have a look at the daily close we've just received, it was a bearish close with a failed attempt at breaking resistance. Because of this, we should be quite wary of BTC's movements.



I will be trading the trend. If we start to fall, I will consider closing some/all alt positions. I will consider moving my BTC into stable coin/s such as USDT and USDC. I will open a short on Bitmex and trade accordingly.

If we succeed, I will look to acquire more alt coins, ones I have been hand picking and waiting for this moment. Coins that will provide great returns like AGI has for us recently. Congratulations to everyone who's been trading that with me. It really has been a pleasure to work as a community in making the most of this coin's bullishness. I will long BTC via Bitmex and trade accordingly. If BTC starts to reach high $4,700+ ranges and higher, I will start to look to average out back into a stable coin. I'm not convinced the bear market is over yet. The world is sick, markets are unhealthy and an economic war is looming between China, Russia and USA. Don't be a fool to think Crypto will be a safe haven, but nor neglect the fact that major companies are patenting everything they can to do with crypto and that big firms such as circle are trading OTC values of up to 24bill+..

There is a famous quote I love, "It is the mark of an educated mind to be able to entertain a thought without accepting it." It means don't be stupid, expect everything to happen, action whatever does happen. Which goes hand in hand with Technical analysis.. Chart everything, trade what plays out.

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