Bitcoin has breached my short term target at $13k already. Many are looking at the $14k as resistance, but I don't see any resistance. If price can above the most recent pivot high on the weekly chart, price will get to my next target at $17k.
For the bulls out the as price moved higher, it formed a daily demand at $12,900. That becomes the new floor. Normally, I don't chase price, but chasing Bitcoin is worth it as I have a 5-10 yr horizon as the risk of Bitcoin not retracing back far outweighs getting Bitcoin a $1000 cheaper.
https://cryptobriefing.com/strong-fundamentals-push-bitcoin-new-yearly-high/
https://cointelegraph.com/news/this-is-the-last-major-hurdle-before-bitcoin-price-can-target-20-000
I'm a supply and demand trader and I use multiple time frame (MTF) analysis to improve my discretionary trading decisions. MTF analysis involves analyzing the same asset on multiple time frames. The rule of thumb when using MFT is you want your charts to scale down/up by 4X – 6X. In my case I tend to look at:
Monthly Charts (curve time frame) – which represents that jet fighter flying over the football stadium.
Weekly Charts (trend time frame) – which represents the concession stands looking down at the field.
Daily Charts (entry time frame) – which represents being on the football field with the player.
4 Hr Charts (entry time frame) – which represents the center hiking the ball to the quarterback.
▶️ 3Speak
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