Long

Are you ready for the next leg up?

Updated

#Bitcoin is looking beautiful!

Historical patterns show the potential for massive gains for BTC.
Are you ready for the next leg up?

#Crypto

Note

#Bitcoin is showing a strong recovery from its support trendline, but it encounters resistance from the Ichimoku cloud, indicating ongoing bearish momentum.

To confirm a bullish outlook, we need to see a breakout above the Ichimoku cloud and the horizontal supply zone. This breakout would suggest a potential shift in market sentiment, setting the stage for Bitcoin to reach new highs.

Patience is essential as the market navigates these crucial resistance levels, but a successful breakout could signal the start of a significant upward trend.

#Crypto

Note

In this 4-day Bitcoin chart, we see that the Super Trend indicator is still in the green, indicating we are in a larger bullish market or trend on the higher time frame. It's important to understand the difference between time frames, as even during a larger bullish trend, we can see short-term pullbacks or sideways consolidation.

To invalidate the bullish market based on the Super Trend indicator on this chart, we would need to see a 4-day candle close confirming 55.8K, which has not happened yet. Currently, we are seeing the continuation of the larger market trend, similar to previous instances where a candle moved to the downside below the point of validation but did not close below it, thus maintaining the bullish market structure.

Markets take time to play out, and while the past few months may not have felt particularly bullish, we had a similar period about a year ago. For example, if you bought Bitcoin around mid-April 2023, you might have waited around 200 days before the market continued beyond that point. Multiple months of sideways or even slightly downward price action can occur during a bullish market, as long as the bullish structure on the larger time frame remains intact, which it has so far.

Note

🚀 #Bitcoin has broken out of a cup and handle pattern, signaling a bullish uptrend! Currently testing the neckline, a key resistance level.

The 21-day MA is providing strong support. If BTC holds above it, we could see a powerful rally ahead! 📈

#Crypto

CRYPTOMOJO_TA

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