Bitcoin Bulls Are Not Done! Get Ready for $60k - $66k Move But..
Bitcoin Hit 56k in real time huh? Hopefully you didn't miss this generous Val gift from Bitcoin and alts! You can feel the love Bitcoin shows when she is in the mood, the printer goes brrrraaaahhhhhh!🤣
Why do so many sound surprised?
Oh yes! the Bulls season is in and far from over just yet. I know most of us expected the opposite to happen(dump🙄)as a result of the 40k rang challenge Bitcoin bulls faced during the ending of Jan, no doubt it was a rough time but the Bitcoin bulls were capable and desperate too, they were constantly leaving behind foot prints every where on the chart (the market structure of course).
You see, Bitcoin love is too real for the banks to handle, so they labeled her SCAM, when its Feb? They got Served💸!!
It's yet another weekend, where is bitcoin going?
Let's take a closer look....
this view shows that we are already within the range of resistance(remember resistance is an area not a line)the upper trendline (sellers line) of the channel. Yes we could see some reactions from here but then the bull market structure shows that they won't let it go down that easily so they are likely to put up a good fight and if they succeed, then my white arrow pointing to 60k will get in play as they will completely destroy the sellers upper channel or if they fail😢.........Don't get emotional! my red arrow down will get in play, and we will see a pull back to
54K to 50k range but the pump will most likely continues afterwards as this will only serve as a retest of last broken resistance.
Let's now look at the candles currently formations on higher timeframe (weekly chart) for back up confirmation of what to expect during the week of next week.
Do you see the similarities in the three white soldiers formed at the beginning of each breakout since the start of this bul trend?
this simply shows me that bitcoin will see one more green bg week at least before a strong pullback occur just like in the last previous two waves after sideways breakout.
but after this Bitcoin could face a very strong pullback (this is the last move I see before the pull back dump to 20k to retest the Monthly breakout )
Why do so many sound surprised?
Oh yes! the Bulls season is in and far from over just yet. I know most of us expected the opposite to happen(dump🙄)as a result of the 40k rang challenge Bitcoin bulls faced during the ending of Jan, no doubt it was a rough time but the Bitcoin bulls were capable and desperate too, they were constantly leaving behind foot prints every where on the chart (the market structure of course).
You see, Bitcoin love is too real for the banks to handle, so they labeled her SCAM, when its Feb? They got Served💸!!
It's yet another weekend, where is bitcoin going?
Let's take a closer look....
this view shows that we are already within the range of resistance(remember resistance is an area not a line)the upper trendline (sellers line) of the channel. Yes we could see some reactions from here but then the bull market structure shows that they won't let it go down that easily so they are likely to put up a good fight and if they succeed, then my white arrow pointing to 60k will get in play as they will completely destroy the sellers upper channel or if they fail😢.........Don't get emotional! my red arrow down will get in play, and we will see a pull back to
54K to 50k range but the pump will most likely continues afterwards as this will only serve as a retest of last broken resistance.Let's now look at the candles currently formations on higher timeframe (weekly chart) for back up confirmation of what to expect during the week of next week.
Do you see the similarities in the three white soldiers formed at the beginning of each breakout since the start of this bul trend?
this simply shows me that bitcoin will see one more green bg week at least before a strong pullback occur just like in the last previous two waves after sideways breakout.
but after this Bitcoin could face a very strong pullback (this is the last move I see before the pull back dump to 20k to retest the Monthly breakout )
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