We still have a several hours left in this week but I'm going to go ahead and post my weekly update for Bitcoin . For those of you following my work you are already very familiar with this chart. You know when we hit bottom. You know when we broke out of the large . And you know when the 20/40 weekly MA crossed. You also know that in last week's update I was calling for a green candle this week that would entirely engulf the red candle of last week. Well, I'm going to go ahead and say that's how this week is going to end. Unless they can crash the price in the next 7 hours or so this week is going to finish green and engulf last week's candle as predicted. What does this mean? I think it means you need to put on your space suit and your helmet, hook up your oxygen, and get ready for the launch sequence.
Let's start the pre-flight check-list now:
1. Bitcoin broke above the multi-week trend-line - Check!
2. Bitcoin came back to the trend-line for a touch-back - Check!
3. The touch-back printed a red weekly candle - Check!
4. The red weekly candle was engulfed by a green weekly candle - Check!
5. The 20/40 weekly moving averages have crossed - Check!
6. The gap between the 20/40 weekly moving averages continues to widen - Check!
7. I saw another segment on TV this morning about Bitcoin - Check!
8. The Bears are shorting their butts off trying to stop this launch - Check!
Ladies and Gentlemen our fuel is 110% and we are ready for take off. Please throttle up main engines and initiate the count down.
I'll see you on the other side of the moon.
In 10, 9, 8, 7,...........................................
For clarity - If you are day trading this does not mean we are running North and never looking back. We could retrace at any time. I'm just saying that "In General" we are fueled up and ready to see new highs in the weeks and months to come. Since I am already long all I am doing right now it sitting back and watching the show.
Still playing the LONG game waiting for the halving just to see how how we can fly.
But whatever, at least I got my Bitcoin in the process and a nice bottle of Champagne.
How was that for the first stage of a multi-stage rocket to the moon?
"Houston, we have jettisoned fuel stage one and will be initiating stage two in T minus 10, 9, 8, 7, ……."
lol, enjoy the ride. But don't let the turbulence shake you out of your seat. :0)
I think we are just getting started.....