Look left / down on the yellow circle!
Updated
For persistently rising prices, we need 3 conditions on a weekly basis:
1. Tenkan - Kijun = bullish cross
2. Both Tenkan & Kijun "have to" run through the SMA 50 to generate a bullish intersection
3. Only then should / can all 3: Tenkan, Kijun & SMA 50 climb in the same way as in the yellow circle, through LEAD 1 through the red cloud.
As long as that does not happen the way down remains open all the more since there is only one important support between 1171.3 & 968.9.
Before mid-October (as I mentioned in the last BTC chart) I would not rely on too much bullish development.
The possibility that the 3 conditions can be met without reaching another low, I do not exclude hereby definitely.
I stay open!
1. Tenkan - Kijun = bullish cross
2. Both Tenkan & Kijun "have to" run through the SMA 50 to generate a bullish intersection
3. Only then should / can all 3: Tenkan, Kijun & SMA 50 climb in the same way as in the yellow circle, through LEAD 1 through the red cloud.
As long as that does not happen the way down remains open all the more since there is only one important support between 1171.3 & 968.9.
Before mid-October (as I mentioned in the last BTC chart) I would not rely on too much bullish development.
The possibility that the 3 conditions can be met without reaching another low, I do not exclude hereby definitely.
I stay open!
Note
Here are some thoughts: what if the next cycle can be raised logarithmically?
This would free up an incredibly high potential that can not be undone so quickly.
Only a weekly closing price below the red line @ 1061 would destroy that view.
At that point (1061), the Monthly Cloud is still supportive, just in case a close happens below, then you could forget about BTC.
We'll know more in a few months.
tradingview.com/chart/0f8FYiGU/
Note
Note
yellow - top - right (correction) is now correctly placed.Note
Now a few weak days may follow but in April there should be a bullish monthly. At least both should be reached: the SMA 200 & the EMA 00 Daily, from then on falling again.Note
Note
Soon we shall see the TP1 at 5659.5, where also MA 50 can serve as orientation, and afterwards either directly towards TP2 at 6448 or after a pullback.
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