🅱️ Bitcoin $40,000 Minimum, $50-60K Possible... Let Me Explain!
Updated
Bitcoin hit a peak 10-April 2023, this led to EMA200 being tested as support.
EMA200 holds 12-June and Bitcoin resumes upwards but fails to break April's peak/resistance at $31,000.
This is an analysis based on the moving averages.
Four weeks straight Bitcoin fights at the $31,000 level without success and is pushed back down, again, EMA200 working as support.
If EMA200 holds now (which is as good as confirmed after this level held for 5 weeks straight), then Bitcoin is set to move higher and hit a new high based on Fibonacci proportions and the EMAs.
The fact that the rejection at 31k led to a higher low, signals that this resistance will break the next time that it is challenged on the way up. The major level after 31k is $40,900 and thus the $40,000 minimum target.
👉 This is the minimum if Bitcoin closes this week green and moves ahead (bullish follow through) but not the maximum, there is more.
👉 Bitcoin can continue higher and go as high as $50,000 (or even $60,000) as good news shower the market after so much negativity for years on end... What will the good news be? Who cares, Bitcoin is going up!
Namaste.
EMA200 holds 12-June and Bitcoin resumes upwards but fails to break April's peak/resistance at $31,000.
This is an analysis based on the moving averages.
Four weeks straight Bitcoin fights at the $31,000 level without success and is pushed back down, again, EMA200 working as support.
If EMA200 holds now (which is as good as confirmed after this level held for 5 weeks straight), then Bitcoin is set to move higher and hit a new high based on Fibonacci proportions and the EMAs.
The fact that the rejection at 31k led to a higher low, signals that this resistance will break the next time that it is challenged on the way up. The major level after 31k is $40,900 and thus the $40,000 minimum target.
👉 This is the minimum if Bitcoin closes this week green and moves ahead (bullish follow through) but not the maximum, there is more.
👉 Bitcoin can continue higher and go as high as $50,000 (or even $60,000) as good news shower the market after so much negativity for years on end... What will the good news be? Who cares, Bitcoin is going up!
Namaste.
Note
🅱️ Will Bitcoin continue growing or crash?It is a valid question.
People are wondering, will Bitcoin truly continue up? It seems quite weak, there is no follow through... How can I be sure that Bitcoin will continue growing rather than move back lower?
The answer again can be gotten from the Altcoins market, this can help you clear any and all doubts, we have 100% proof.
✔️ The Altcoins market is booming.
✔️ Many Altcoins are moving up.
✔️ Some Altcoins are breaking strong and this has been going for months and months.
When Bitcoin is set to crash, the Altcoins crash faster, harder and even before Bitcoin does. Just a stop that Bitcoin makes and the Altcoins immediately hit new lows.
👉 We are seeing Altcoins growing by 200%, 300%, 500% and some even 1,000% or more.
That's the proof and that's your answer.
Bitcoin is going up or else the rest of the market would be looking pretty bad right now, instead we are seeing growth.
Bitcoin is just allowing some room for the rest of the market to catch up.
It is doing pretty good already above
25K, some Altcoins need to move higher before Bitcoin moves ahead.You know how it works, when Bitcoin starts going, it extracts all the energy from the entire market and that's why the Altcoins grow when Bitcoin does sideways.
If you have any other doubt, leave a comment with your questions, and I'll reply with prove based on the charts.
We are set for massive growth.
Namaste.
Note
10,000 GREEN AltcoinsImagine 10,000 Altcoins all growing between 300 and 500%. Some will move higher of course but think of most of the Altcoins market moving forward in concert.
When 10,000 Altcoins all stop to breathe and retrace, this in turn fuels Bitcoin's next bullish wave.
It goes back and forth... Bitcoin feeds the Altcoins, the Altcoins feed Bitcoin's growth in return. A win-win situation.
Namaste.
Note
Last week Bitcoin closed on a strong bullish candle, above EMA200 confirming this level as a strong support and opens the week 100% bullish.This is all good news for those looking/wanting/trading for Bitcoin to go higher.
This basically confirms, once more, that the market is set to continue to grow.
Altcoins should continue growing as well and speed up over the days.
Trade closed: target reached
Bitcoin hits a target of ~$49,000 and we consider this "target hit".We now expect a correction leading to the 2024 halving event.
Namaste.
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