Bitcoin very bullish in mid term despite possible quick shakeout
Bitcoin is showing signs of having a turbo charge at the 4-6D TFs, meaning that the price would likely continue to go up one candle after another (in general) despite the fact that the 2D turbo charge appears to be coming to an end soon.
Be very mindful of the fact that a quick small red candle could indeed happen at the 2D TF without affecting the agenda of the turbo charges at roughly 4-6D TFs which could very well continue to show price pump despite a quick dump at the 2D scale of things, embedded within the entire candle of a, say, 6D candle. A quick dump at the 2D scale would not even be visible if at all in the 6D-8D TFs, which are still bullish and having their own momentum swing to the upside.
In the high TFs like 3M-1M, we are only beginning to move up and there is still a lot of room for the price to go up before the momentum in the 3M TF exhausts. At this point it is very likely to see continuous price pump in the mid TFs, with occasional turbo charges at certain mid TFs as their particular way to warp themselves to fit the agenda of the higher TFs where a strong bullish sentiment dictates the price action of BTC in the mid to long term.
TLDR: Very bullish mid term, unwise to short, but beware of a quick $800-$1000 shakeout at the 2D scale. Yes life is tough in the crypto market.
First indicator is Phoenix 1.119 from user @WyckoffMode.
Be very mindful of the fact that a quick small red candle could indeed happen at the 2D TF without affecting the agenda of the turbo charges at roughly 4-6D TFs which could very well continue to show price pump despite a quick dump at the 2D scale of things, embedded within the entire candle of a, say, 6D candle. A quick dump at the 2D scale would not even be visible if at all in the 6D-8D TFs, which are still bullish and having their own momentum swing to the upside.
In the high TFs like 3M-1M, we are only beginning to move up and there is still a lot of room for the price to go up before the momentum in the 3M TF exhausts. At this point it is very likely to see continuous price pump in the mid TFs, with occasional turbo charges at certain mid TFs as their particular way to warp themselves to fit the agenda of the higher TFs where a strong bullish sentiment dictates the price action of BTC in the mid to long term.
TLDR: Very bullish mid term, unwise to short, but beware of a quick $800-$1000 shakeout at the 2D scale. Yes life is tough in the crypto market.
First indicator is Phoenix 1.119 from user @WyckoffMode.
