Massive Bitcoin Movements on Chart

MASSIVE BITCOIN MOVEMENTS SEEN ON CHARTS, ARE WE BACK TO BREAKING OUT SOON?

BTC TOP 3

VERY, VERY VOLATILE

What does this massive Bitcoin movement means?

Starting this day off to a big leap back to the 62k level, just a few hours ago, too, we have witnessed how volatile Bitcoin can be: from 61k to 56k in a single 5-minute candle, then coming right back up on the next. This massive movement by Bitcoin has either wrecked or gained one profit instantly.

See that large candle right there?

MASSIVE BITCOIN MOVEMENTS

TheMoonCarl also talked about invalidating the bearish head and shoulders pattern many have been discussing around the past couple of days and instead pointed out a new bullish pattern that would lead Bitcoin back up to all-time highs.

Falling Wedge, bullish pattern

Additionally, Carl added that these recent massive movements under a very short timeframe indicate a breakout to the upside soon.

The falling wedge target, should this play out and break to the upside, targets the top of the wedge around 66.8k, which was our recent all-time high.

Recalling Plan B’s Bitcoin price targets, it looks like we are right back on track, aren’t we?

“There’s still hope for Bitcoin bulls”, according to Peter Brandt, CEO of Factor LLC, a global trading firm.

Do you agree?

BITCOIN OPTIONS EXPIRY, FRIDAY

Should we be worried again about tomorrow’s options expiry? Massive movements are a given during month-end valuations but are these worth concerning?

No, not at all. During bear markets, or when Bitcoin seems to have not decided whether to go bear or bull, these options expiry can have a massive impact on the price action. Paired with lots of FUDs, the price just gets lower every time.

But on bull markets, it’s quite different. Although it certainly has its dips, these dips become a significant level of support for the upcoming week’s price actions.

Good news, right?

MEME COINS HYPE NOT YET OVER

Should you buy?

Bitboy Crypto said in one of his Q & A segments, “Do not buy anything that is at an all-time high.”

Should you short, then?

Bitboy added, “Also, this is not the right time shorting the market.”

I hope we’ve saved you from would-be losses.

***DISCLAIMER: THIS IS NOT FINANCIAL ADVICE. PLEASE DO YOUR OWN RESEARCH.


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Elisa A.

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