After the dump down failing to touch 20k or even the previous ATH level, Bitcoin has found support along a weekly at $16599.99 and when everybody was calling short that's where you should've longed.
Now we can see that BTC is in a bullish swing upwards after reversing and doesn't indicate any signs of slowing down just yet.
At the very least, Bitcoin is going to touch $18953 monthly resistance level, if not the previous ATH at $19666 as well.
After Bitcoin closes above it's previous ATH prices there are no more resistance levels in its path on the way upwards and the closest support level would be the all time high resistance turning support. Once this happens, the FOMO into the cryptocurrency market is going to be unheard of.
TP1 🎯 $18953 TP2 🎯 $19666 TP3 🎯 $20000
This has been one crazy rollercoaster ride these past 3 years waiting for this day to come, but we made it. Everybody reading this now I salute you for being an early adopter in cryptos and wish you all the best because Bitcoin is about to pump. This last dump was to stop out over-leveraged longs and shake out the weak hands.
We just had the weekly close and tomorrow will close out the monthly candle offering new opportunities for a pump and Bitcoin looks primed for it.
As always please do your own research, I am not a financial advisor.
What do you think about alts? Would you exit to hold bitcoin for the run and get back into them when bitcoin slows or just hold and wait?
kyer
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@McToasty Great question! Take a look at the BTC.D ratio and you can decide whether or not alts are going to soar in regards to BTC price %, also take a look at TOTAL2 ticker to see the total mkt. cap minus the Bitcoin
very likely indeed, yes. I was hoping for a better discount, but tough luck so far.
kyer
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@ProjectSyndicate Thank You same here, was expecting a better dip so I could buy in at a nice low price
haseebOnline2020
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@kyer, First of all i must say your analysis was Top Notch and explaining well the pulse of buyers and sellers near resistance or support levels . Only a long term investor would have held patience to see this day. I`m expecting a 20,000 level hit by end of this week before BTC go down for correction and then continue the long term Bullish pattern .
kyer
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@haseebOnline2020, Thank you!!! It's been one crazy ride up man.. and as crazy as this sounds I think we can break through 20k this week too. The fear/greed index is very greedy right now but I think the price will continue moving up the bullish momentum is too strong to stop or slow down atm. In the 2017 bull market it was very common for the price to drop 10-20% and carry on upwards