I REALLY LIKE BITCOIN'S STRUCTURE But what we need to see first?
As you can see, the beast has awakened in recent days, and the mother of all cryptocurrencies is back. It’s crucial to use Bitcoin’s analysis as a base because it’s the crypto that drives the entire cryptocurrency market in general. So, rest assured, if Bitcoin wakes up, the crypto market will be alive!
The Beast has awakened, and we are very close to $70,000. The key lies in two very important points that I will highlight in yellow on the chart.
Point 1 (P1): VOLUMETRIC CANDLE. The impulse of the volumetric candle that gave the price its bullish strength—these types of candles are the fuel that the price needs to propel itself and reach new highs.
Point 2 (P2): DIVERGENCE. If we look at the two EMAs (8 and 21), they are very extended. I use these EMAs as a reference to confirm there’s strength in the price. Whenever these two EMAs start to widen from each other, it's when the price begins to make a decision and show strength to either continue its trend or maintain momentum.
But hold on! Don’t celebrate just yet.
To reach the All-Time High, we’re likely to see one or two pullbacks first. It all depends on the volatility we’ll see in the coming days.
Our short-term goal is for BTC to reach $70,000, and after hitting that target, we’ll be very close to seeing BTC surpass its all-time high once again.
In my personal opinion, I think the most difficult stage for Bitcoin is not reaching $70,000, but surpassing $71,800 level
Let’s see what the week has in store for us.
Thank you for supporting my analysis.
The Beast has awakened, and we are very close to $70,000. The key lies in two very important points that I will highlight in yellow on the chart.
Point 1 (P1): VOLUMETRIC CANDLE. The impulse of the volumetric candle that gave the price its bullish strength—these types of candles are the fuel that the price needs to propel itself and reach new highs.
Point 2 (P2): DIVERGENCE. If we look at the two EMAs (8 and 21), they are very extended. I use these EMAs as a reference to confirm there’s strength in the price. Whenever these two EMAs start to widen from each other, it's when the price begins to make a decision and show strength to either continue its trend or maintain momentum.
But hold on! Don’t celebrate just yet.
To reach the All-Time High, we’re likely to see one or two pullbacks first. It all depends on the volatility we’ll see in the coming days.
Our short-term goal is for BTC to reach $70,000, and after hitting that target, we’ll be very close to seeing BTC surpass its all-time high once again.
In my personal opinion, I think the most difficult stage for Bitcoin is not reaching $70,000, but surpassing $71,800 level
Let’s see what the week has in store for us.
Thank you for supporting my analysis.
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