Bitcoin Weekly Review Update
Weekly close of the CME was exactly at $ 11,800 with the creation of a new GAP. We radically closed a new week, strongly breaking the main downward trend line that supported the market since the historical high of 2017.
Really now the bears are going to have to cry literally. The bear market is over and we are ready to see what will be the beginning of a great wave of a new economic cycle that we believe will reach the price of 100k.
For now we have a weekly Bitcoin close above 50% of the fibobonacci support line and we believe that the next step will be the touch of 38% of the fibonance retraction line within a wave 3 that we are confirming today and exactly in the price of 13,373 USD and with an approximate appreciation of 13%.
Trading volumes very quiet, but at any moment we will see how the big players will make their move.
On the indicator side, Bitcoin begins to enter an overbought zone, which indicates that at any moment we can see a small correction that could be triggered up to $ 10,878 with the touch of the resistance line that marked the historical downtrend.
Really now the bears are going to have to cry literally. The bear market is over and we are ready to see what will be the beginning of a great wave of a new economic cycle that we believe will reach the price of 100k.
For now we have a weekly Bitcoin close above 50% of the fibobonacci support line and we believe that the next step will be the touch of 38% of the fibonance retraction line within a wave 3 that we are confirming today and exactly in the price of 13,373 USD and with an approximate appreciation of 13%.
Trading volumes very quiet, but at any moment we will see how the big players will make their move.
On the indicator side, Bitcoin begins to enter an overbought zone, which indicates that at any moment we can see a small correction that could be triggered up to $ 10,878 with the touch of the resistance line that marked the historical downtrend.
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