Why Bull Market Is Not Over For Bitcoin BTC?
Hello, Skyrexians!
Recently we have see the drop on
BTCUSDT to 91k. We can't understand why it caused so much fear and negative in crypto communities. This is still next to ATH but fear and greed index dropped into the fear territory. This is great sign for bull run continuation and now we will explain you this statement with the technical analysis.
Let's take a look at the weekly time frame. Before December we had a great probability
that anticipated growth from 50k to 100k could be the final wave 5 of the bear market, but price action has broken the potential Awesome Oscillator's bearish divergence. It gives us the confidence that this move was just the wave 1 in wave 3. It means that the most impulsive growth ahead. The minimal target is 1.61 Fibonacci at 140k, maximal at 200k. We believe more in 200k, but watch out our updates because targets can be recalculated.
Best regards,
Skyrexio Team
___________________________________________________________
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Recently we have see the drop on
BTCUSDT to 91k. We can't understand why it caused so much fear and negative in crypto communities. This is still next to ATH but fear and greed index dropped into the fear territory. This is great sign for bull run continuation and now we will explain you this statement with the technical analysis.Let's take a look at the weekly time frame. Before December we had a great probability
that anticipated growth from 50k to 100k could be the final wave 5 of the bear market, but price action has broken the potential Awesome Oscillator's bearish divergence. It gives us the confidence that this move was just the wave 1 in wave 3. It means that the most impulsive growth ahead. The minimal target is 1.61 Fibonacci at 140k, maximal at 200k. We believe more in 200k, but watch out our updates because targets can be recalculated.
Best regards,
Skyrexio Team
___________________________________________________________
Please, boost this article and subscribe our page if you like analysis!
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Access private PineScript strategies and turn alerts into orders with easy-to-set up bots
Trade smarter with:
skyrexio.com
Trade smarter with:
skyrexio.com
Related publications
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.