timeframe

As you can see in this chart, I've shown both upside scenarios I described in my previous post in more detail. We've got a tricky setup that I won't pretend to predict with certainty. This forming pattern could either be a continuation triangle (yellow) or a reversal diamond (red + yellow). Considering the indicators on the 4H still have room for relief, the diamond scenario is definitely viable. Plus, what concerns me is this upward breakout on the daily without even a single retest of the 50MA (for almost a month now), not to mention the 100MA, 200MA, etc.
On the flip side, the daily trend is strong and there's still fuel for at least one more impulse. If this impulse happens, we're looking at a move toward $107K, but beyond that I've put a question mark because that's where the fate of this no-pullback rally will be decided. Either it forms a clear divergence on the daily and we start a deep correction toward $97K, or price blasts through $107K on massive volume and heads straight to #ATH , clearing all previously formed divergences.
The second route to $107K would be through the diamond pattern. That means first dropping to the purple block area, and only then pushing to 107K.
🔸As I mentioned above, I'm slightly leaning toward upward movement from the current range, purely based on the strength of the daily impulse. But being completely honest, I'm not confident in the current structure and I'm writing all this to give you some clarity. Both scenarios are viable, and if price reaches the purple block range, that's a 100% long opportunity on any top altcoin (I'm already long on $BTC , could add to it there, or open a new long position after stopping out of the current one - we'll see)
Buy and Trade $BTC here
#CryptoRegulation @WISE PUMPS