Quick look at the bull market support band for BTC
Here's a quick look at the weekly BTC chart with the bull market support band on.
The bull market support band (b.m.s. band) has in pervious years been a very good indicator in terms of indicating a shift in the market.
When the price gets below the band, the price tends to get into a bear phase. And when the price breaks above and holds above the band, the price tends to start a new bullish trend.
Currently the price has broken above the bull market support band. The price went up to 48k and came back down and retested the B.M.S. band. The price needs to stay above the band and break above 48.3k to gain more bullish momentum.
Last time the price went above the band, it came back down to retest it. After the retest, the price went from 39k to 69k!
If the price stays above the bull market support band and breaks the 48.3k level, we could then very likely see a move to New ATH! Almost every single time the price has stayed above the band, the price has made massive bullish moves! We may see one soon!
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BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
The bull market support band (b.m.s. band) has in pervious years been a very good indicator in terms of indicating a shift in the market.
When the price gets below the band, the price tends to get into a bear phase. And when the price breaks above and holds above the band, the price tends to start a new bullish trend.
Currently the price has broken above the bull market support band. The price went up to 48k and came back down and retested the B.M.S. band. The price needs to stay above the band and break above 48.3k to gain more bullish momentum.
Last time the price went above the band, it came back down to retest it. After the retest, the price went from 39k to 69k!
If the price stays above the bull market support band and breaks the 48.3k level, we could then very likely see a move to New ATH! Almost every single time the price has stayed above the band, the price has made massive bullish moves! We may see one soon!
-------------------------------------------
If you like the content, then make sure to comment and like the post :D
Follow me for daily profitable trading setups
BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
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