NeverNO

Look left / down on the yellow circle!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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29
2038 5
For persistently rising prices, we need 3 conditions on a weekly basis:

1. Tenkan - Kijun = bullish cross

2. Both Tenkan & Kijun "have to" run through the SMA 50 to generate a bullish intersection

3. Only then should / can all 3: Tenkan, Kijun & SMA 50 climb in the same way as in the yellow circle, through LEAD 1 through the red cloud.

As long as that does not happen the way down remains open all the more since there is only one important support between 1171.3 & 968.9.
Before mid-October (as I mentioned in the last BTC chart) I would not rely on too much bullish development.
The possibility that the 3 conditions can be met without reaching another low, I do not exclude hereby definitely.
I stay open!
Mar 16
Comment: Here are some thoughts:
what if the next cycle can be raised logarithmically?
This would free up an incredibly high potential that can not be undone so quickly.

Only a weekly closing price below the red line @ 1061 would destroy that view.
At that point (1061), the Monthly Cloud is still supportive, just in case a close happens below, then you could forget about BTC.
We'll know more in a few months.
https://www.tradingview.com/chart/0f8FYi...
Mar 16
Comment:
Mar 16
Comment: yellow - top - right (correction) is now correctly placed.

Mar 23
Comment: Now a few weak days may follow but in April there should be a bullish monthly. At least both should be reached: the SMA 200 & the EMA 00 Daily, from then on falling again.
Mar 23
Comment:
Apr 03
Comment: Soon we shall see the TP1 at 5659.5, where also MA 50 can serve as orientation, and afterwards either directly towards TP2 at 6448 or after a pullback.

Comments

I like your chart.

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NeverNO MotGeneral
@MotGeneral, Thx ;-)
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The circle is actually a target in my book. It's got a gap in that area. Cool.
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NeverNO Smart-Luck
@Smart-Luck, Hi, can you maybe post a chart with the path to your TP?
Reply
@NeverNO, Of course. Not exactly a path though. Just the believe that this price point will hit.


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