Quote from: exstasie on Today at 12:40:02 AM

Quote from: exstasie on April 03, 2020, 01:41:36 PM

I would say we can remain cautiously bullish as long as the market holds above that $6,650 pivot.

The pivot held nicely over the weekend and we retained bullish bias. Stock market futures gapped up Sunday and hit the upside limit Monday. BTC moving in lockstep with stocks, both now hovering at their last local highs:

Anyone ignoring this correlation needs to have their head examined. When stock markets are closed, BTC moves have zero follow-through. When the markets are open, BTC follows stocks. Stocks are currently breaking above their late March double tops, so we could see significant upside in the coming week as trapped sellers and shorters get squeezed. The same goes for BTC.

I still stand by what I said in this post: https://bitcointalk.org/index.php?topic=5196072.msg54149908#msg54149908

I'm seeing more and more calls from bulls expecting the $9,000s or $10K. I personally don't think the 200-day MA and March pivots in the low $8,000s will be so easy to surpass. It feels like bulls are beginning to get greedy. Shorts are being squeezed now, but it feels like we're trapping bulls for later.

And there goes another one right in my thread:

Quote from: dragonvslinux on April 06, 2020, 09:25:20 PM

Looking good Cool

Here's a target for that ascending triangle:

To clarify, I wasn't calling for $9K-$10K, I was being lazy and merely bringing out my tape measure based on the mid-term bullish price action and it's potential.
Is that target likely? I don't think so, as unlike most triangle targets there is a lot of resistance in the way. Most people are looking to de-leverage positions, not buy in imo.
First off: selling the re-test of the 50 & 200 Day MA death cross at the 50 Day MA ($7,484), then selling the 200 & 100 Day flat MA resistance confluence ($8,110-$8,130).
Then we can see if the triangle resistance level flips to support or not before considering bullish re-positing. As if the 100 Week MA doesn't hold, the 200 Week MA is open for another re-test of support (as referenced in the Weekly analysis above; that of being relatively neutral and in a wide range).