Bitcoin, Has the post halving long term bull run been confirmed?
As a follow on to the last analysis we can see one thing that has not happened, that being that BTC is not above the GC(Gaussian Channel) as yet.
What I have noticed on this chart is that at the end of every yellow box it indicates the lowest point BTC will hit before it's next long term bull run. If this is the case, the last 'covid' crash should be the lowest you will see BTC for a very long time. There could always be a second covid crash though if things get worse in the countries that don't believe there is a killer virus about even though 20000+ people are dying a month.
The EMA10 (in blue) is now above the MA21 (in orange) on the weekly log chart shown. BTC is holding above the EMA10. BTC is testing the top of the GC.
On this monthly chart below we can see the 'squeeze' I spoke about in the last analysis is over and BTC is holding above the monthly EMA10 now.
To me, all of these signs indicate the next long term bull run has begun.
The question is whether we will see a downward move to test the weekly MA21 around the $8400 region. This is also where the EMA10 on the monthly chart sits currently. To sustain the case of this being the start of the next long term bull run similar to after the last halvings, BTC needs to hold the indicators I mentioned in the last analysis on monthly and weekly charts. This scenario allows a drop to the $8400 region from where BTC currently is without breaking the terms of the next bull run as per indicators mentioned before.
On the other hand, we notice so many bullish indicators and also the $9800 barrier is consistently being tried which could indicate we will eventually break above this area and stay above it. If BTC can't break this region by July we may see a drop in price to test the MA21 weekly indicator.
All of this could be invaild if covid19 runs riot though.
Happy trading legends!
HTBB
What I have noticed on this chart is that at the end of every yellow box it indicates the lowest point BTC will hit before it's next long term bull run. If this is the case, the last 'covid' crash should be the lowest you will see BTC for a very long time. There could always be a second covid crash though if things get worse in the countries that don't believe there is a killer virus about even though 20000+ people are dying a month.
The EMA10 (in blue) is now above the MA21 (in orange) on the weekly log chart shown. BTC is holding above the EMA10. BTC is testing the top of the GC.
On this monthly chart below we can see the 'squeeze' I spoke about in the last analysis is over and BTC is holding above the monthly EMA10 now.
To me, all of these signs indicate the next long term bull run has begun.
The question is whether we will see a downward move to test the weekly MA21 around the $8400 region. This is also where the EMA10 on the monthly chart sits currently. To sustain the case of this being the start of the next long term bull run similar to after the last halvings, BTC needs to hold the indicators I mentioned in the last analysis on monthly and weekly charts. This scenario allows a drop to the $8400 region from where BTC currently is without breaking the terms of the next bull run as per indicators mentioned before.
On the other hand, we notice so many bullish indicators and also the $9800 barrier is consistently being tried which could indicate we will eventually break above this area and stay above it. If BTC can't break this region by July we may see a drop in price to test the MA21 weekly indicator.
All of this could be invaild if covid19 runs riot though.
Happy trading legends!
HTBB
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