Bitcoin BULL RUN UNDERWAY ?
Updated
Quick breakdown on BTC, here's a daily timeframe chart of BTC as you can see we broke above the $6000 level that was a HUGE support zone which then turned into resistance if you remember back in 2017/18 when bear run started taking place.
If you looked on my previous analysis on Tradingview and on the telegram group you'd see that this whole thing was mentioned months ago, this was due to lots of fundamentals that took place during this period and the most important new which I strongly believe that helped us break the 6k barrier - Fidelity.
Which said to offer crypto-currency trading within the next few weeks, and as soon as the news came out people started FOMOing the prices rocketed to the upside.
For me, the current price is pure manipulation, even though I sort-of predicted and was waiting for 6k to be met I believe that we are not still ready for a bull run, and that there's a huge room for bitcoin to fall before the real bull run can commerce.
But last bull run we had was just like this, manipulation, FOMO which took the price to the 20k region and as you remember back then we did not have the adoption we have now.
So could this be the start of the new Bull run ? Absolutely.
But realistically as mentioned I still believe a strong downside push to 5300-5500 and potentially 5200 too can not be ruled out, however if this bullish momentum continues I see prices go to 6500-6700 as marked on the charts which is our next resistance zone, and from there we could dictate where we are going next.
If you looked on my previous analysis on Tradingview and on the telegram group you'd see that this whole thing was mentioned months ago, this was due to lots of fundamentals that took place during this period and the most important new which I strongly believe that helped us break the 6k barrier - Fidelity.
Which said to offer crypto-currency trading within the next few weeks, and as soon as the news came out people started FOMOing the prices rocketed to the upside.
For me, the current price is pure manipulation, even though I sort-of predicted and was waiting for 6k to be met I believe that we are not still ready for a bull run, and that there's a huge room for bitcoin to fall before the real bull run can commerce.
But last bull run we had was just like this, manipulation, FOMO which took the price to the 20k region and as you remember back then we did not have the adoption we have now.
So could this be the start of the new Bull run ? Absolutely.
But realistically as mentioned I still believe a strong downside push to 5300-5500 and potentially 5200 too can not be ruled out, however if this bullish momentum continues I see prices go to 6500-6700 as marked on the charts which is our next resistance zone, and from there we could dictate where we are going next.
Note
6700 target reached !
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