The price of BTC is following the path I charted in my previous post and is expected to make its next leg up to the $46k-48k range within the next day or so, depending on how the weekly candle closes.
If the weekly candle closes above the 21 week moving average, this is an extremely optimistic sign of a continuation of the bull run. Also, the MACD on weekly TF is expected to make a bullish crossover any day now, which is very promising if this plays out.
As you may recall, the bearish crossover on the weekly MACD chart accurately signaled the beginning of the recent bear run after BTC hit a new ATH at $64k.
As there's no major resistance until $50k, I'm cautiously optimistic price will continue to climb in the short term.
*Not financial advice*
If the weekly candle closes above the 21 week moving average, this is an extremely optimistic sign of a continuation of the bull run. Also, the MACD on weekly TF is expected to make a bullish crossover any day now, which is very promising if this plays out.
As you may recall, the bearish crossover on the weekly MACD chart accurately signaled the beginning of the recent bear run after BTC hit a new ATH at $64k.
As there's no major resistance until $50k, I'm cautiously optimistic price will continue to climb in the short term.
*Not financial advice*
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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.