Bitcoin formed a bull flag
Bitcoin formed a classic bull flag, touched the 50d moving average and is heading towards its next up-leg to reach the next target by April.
I expect it to move sideways for another week / 10 days before moving back above usd 40k and beyond.
However people frustrated about the trading stop in GameStop once again favoring WallStreet might move into Bitcoin and Alts and move it earlier. Beware of the Doge coin pump. Doge is not listed on major exchanges according to Coin Market Cap. So it was definitely artificially pumped.
Michael Saylor's conference to educate corporates how to buy and add Bitcoin to their balance sheet is scheduled for Feb 3rd to 4th. It might take corporates a few weeks after that to act on what they learned.
I expect it to move sideways for another week / 10 days before moving back above usd 40k and beyond.
However people frustrated about the trading stop in GameStop once again favoring WallStreet might move into Bitcoin and Alts and move it earlier. Beware of the Doge coin pump. Doge is not listed on major exchanges according to Coin Market Cap. So it was definitely artificially pumped.
Michael Saylor's conference to educate corporates how to buy and add Bitcoin to their balance sheet is scheduled for Feb 3rd to 4th. It might take corporates a few weeks after that to act on what they learned.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.