Bull Run as we anticipated on the 16th. Following up on our recent analysis below we can see everything has fallen into place as we indicated.
As you can see, the 20EMA has crossed the 50 and the 200. Indication of buy signals. (correct)
Also, buy volume is large not small. (correct)
MACD above 0. Also above my orange trend line in MACD as shown and on the way to the green one. (correct, just fell short of green line)
Inverse H&S patterns shown by green line (2 of) confirm bull run. Larger inverse h&s in light blue triangles. (correct, larger blue inverse h&s broke out immediately it hit our estimated target date)
Orange lines indicate upward trend channel, dark blue lines indicated the downward trend channel BTC 0.95% just broke out of. (correct)
Heavy resistance shown in red. (correct, hit resistance at 7780)
Looking at $8800 as first target due to heavy resistance at that price level. 10k if breaks through there, but as always, check the indicators and monitor. (still ongoing)
From here we expect the run to continue to our first target of 8.8k which is not far away. Expect another reaction at the green MACD trend line as it did recently a week ago. This is when we need to reassess the market to see if on the daily chart(not shown here, this is 4HR) that the 20EMA is still above the 50EMA. To me this is where BTC will indicate whether or not we are still in a bear market (long term). It recently crossed over to indicate a buy market that could go on for months, or if it rolls back under we could see 5.2k in the horizon. Only once in the last few years has the market not gone on to a huge bull run once the daily has crossed over, that being around 45 days ago. If it stays above, we could be on a major breakout, if it breaks back below after we hit 8.8k or 10k this bull run, then we could see another sell off down to around 5.2 or 5.8k again.
Binance referral signup link: www.binance.com/?ref=128020...
Website: howtobuybitcoindotnetdotau for full video analysis.
This is not investment advice. Trade at your own risk and only what you can afford.
Happy trading everyone, Let's make some money!!
HTBB
As you can see, the 20EMA has crossed the 50 and the 200. Indication of buy signals. (correct)
Also, buy volume is large not small. (correct)
MACD above 0. Also above my orange trend line in MACD as shown and on the way to the green one. (correct, just fell short of green line)
Inverse H&S patterns shown by green line (2 of) confirm bull run. Larger inverse h&s in light blue triangles. (correct, larger blue inverse h&s broke out immediately it hit our estimated target date)
Orange lines indicate upward trend channel, dark blue lines indicated the downward trend channel BTC 0.95% just broke out of. (correct)
Heavy resistance shown in red. (correct, hit resistance at 7780)
Looking at $8800 as first target due to heavy resistance at that price level. 10k if breaks through there, but as always, check the indicators and monitor. (still ongoing)
From here we expect the run to continue to our first target of 8.8k which is not far away. Expect another reaction at the green MACD trend line as it did recently a week ago. This is when we need to reassess the market to see if on the daily chart(not shown here, this is 4HR) that the 20EMA is still above the 50EMA. To me this is where BTC will indicate whether or not we are still in a bear market (long term). It recently crossed over to indicate a buy market that could go on for months, or if it rolls back under we could see 5.2k in the horizon. Only once in the last few years has the market not gone on to a huge bull run once the daily has crossed over, that being around 45 days ago. If it stays above, we could be on a major breakout, if it breaks back below after we hit 8.8k or 10k this bull run, then we could see another sell off down to around 5.2 or 5.8k again.
Binance referral signup link: www.binance.com/?ref=128020...
Website: howtobuybitcoindotnetdotau for full video analysis.
This is not investment advice. Trade at your own risk and only what you can afford.
Happy trading everyone, Let's make some money!!
HTBB