Currently, the price drifting around $4,000, which was my target after the bounce from the at $3,800. At the moment, this black counter has worked nicely as a and it has given to the price several times nice momentums upwards.
From price action wise, we have nice and clear higher highs and higher lows plus we haven't broken any significant confirmation areas.
This will lead us into the title topic - BTC Price will climb to the $4,500 during this week but why I think so?
Maybe this target sounds too utopic but there are some signs, as said, the price has printed nice and clean higher highs and higher lows, altcoins are on the climbing mode and currently(!), everything looks healthy, slowly but healthy - those all indicates that the price may take another wave upwards.
...but most importantly, I think the price will go into the $4,500 during this week (+- 2 days) is the strong coincidences in this level. Several waves analysis, several channel analysis, several Fibo levels, and other price action criteria showing that the price will go and test EXACTLY this area - let's see - if the price starts to approach this level then I write more specifics about the criteria. Also, if this occurs then it would be a very strong sell setup and it is definitely a perfect area where to take out some short-term or even mid-term profits.
Actually, this move has to start pretty soon and it gets confirmed after the 1H candle close above channel:
The road into the mentioned area has to be pretty sharp and even the FOMO has to kick in to help to drive that price quickly upwards. There are some levels where the price should make a tiny stop, at $4,100 and $4,200, but we have seen that to make $200 dollar pump it is not hard, $200 pump and we are above those strong areas. Yes, lately we haven't seen this because of the low but overall this is not a question if 'they' want to do it.
This scenario is ruined if the price starts to fall lower than the black counter and if it gets a close around the red area or below of it. All which stays above the black counter is healthy and the scenario is still on the play. BTC has had 4 weeks in the row, I looked up and historically BTC has made 5 weeks continues climbs so, let's see, it's a bit utopic (considering the ) but there are some sings...
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Let's see what we gonna get from today's movement, at least some interesting times ahead again, perfectly on the edge, it is a pump or it is a dump.
As said before, then the first bigger bullish confirmation should come after the 1H candle close above the $4k level, which now means also a close above the bull flag and bearish - this red area is not there for beauty!
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Altcoins are pretty stable, so, they don't give any signs but stable is good if the market want's to pump!
Yes, technically everything looks okay and actually, we have some great news - Nasdaq, Bloomberg etc. added crypto indexes into their lists.
From a technical perspective, the price has made a breakout from the bull flag and it has closed above the $4k level, awesome, but it looks almost too easy to be true and the market shows some weirdly slow price movements after those breakouts, like those levels were nothing.
Do not panic(!), this title is still alive (BITCOIN Price $4,500 During This Week!?) because there are not any significant bearish signs but I have some gut feeling about the current situation (As said I'm definitely bullish but I'm ready to change my short-term bias pretty quickly). Looks like a big explosion waiting for us around the corner and as said, technically there are no signs about sell explosion but be careful, everything can happen very quickly and we don't want to get 'manipulated'.
Let’s see what we get from the next hours, now we have some bearish movement which was before “around the corner”
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