BTCUSD
is moving towards very reliable bullish signals, which will confirm the beginning of the next bull-cycle. Buy-signal:
Once BTC is closing above the upper line of the 'Smoothed Swirl'-Indicator. We have a very strong confirmation of a beginning bull market. The fact that bitcoin already closed inside the 'Smoothed Swirl' gives us a strong indication of the future direction. If this signal is combined with a cross on the 'MultiRSI', then this would be a very high probability confirmation of the bull market. Both crosses can be considered as buy signals for long-term investors.
Don't forget that I am analysing the monthly chart. If we look closely at the 'MultiRSI', then it is noticeable that we still have some space between the two lines. Which indicates the probability of short-term downside. The daily and weekly chart have very strong resistance levels ahead and some bearish signals which I will analyse on the weekly chart. If we get a pullback, then my preferred buy-zone would the area around 4300$
Long-Term-Targets:
The 'SupertrendD' indicator works with high accuracy on all kinds of trending markets. It perfectly predicted support and resistance channels for all sorts of assets and also predicted tops and bottoms for BTC since it's first bull-run. If the green-support channel gets confirmed by the price closing above the 'Smoothed Swirl', we can predict a long-term target of at least 27k$ and 43k$ which will grow over time with respect to the trend cycle.
I hope you find this helpful!
Best,
Felix Kewa
