BITCOIN above the 1D MA50 after 1 month!
Bitcoin (BTCUSD) broke yesterday above its 1D MA50 (blue trend-line) for the first time after 1 month (since June 18). It even closed the 1D candle above it, showcasing enormous buying pressure on the short-term.
That is within the 4-month Channel Down pattern, whose 3rd Bullish Leg started after bottoming (Lower Low) on July 05. The 1st Bullish Leg was +24.30%, the second was +27.30% (3% higher), so assuming this is a progression, we can expect the current Bullish Leg to be +30.30%.
We are aiming for $69500, slightly below the +30.30% mark. We will have a long-term bullish confirmation once BTC breaks above March's Resistance Zone.
Do you think it will? Feel free to let us know in the comments section below!
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That is within the 4-month Channel Down pattern, whose 3rd Bullish Leg started after bottoming (Lower Low) on July 05. The 1st Bullish Leg was +24.30%, the second was +27.30% (3% higher), so assuming this is a progression, we can expect the current Bullish Leg to be +30.30%.
We are aiming for $69500, slightly below the +30.30% mark. We will have a long-term bullish confirmation once BTC breaks above March's Resistance Zone.
Do you think it will? Feel free to let us know in the comments section below!
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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