Hello traders! Today I will analyse BTCUSD with technical analysis, as why BTCUSD is ready for another bull run! Don't forget to smash the LIKE button and SUBSCRIBE button.
BTCUSD a few days ago boomed to 37k in mere hours. However, many said this was a fake breakout. I say different. I will explain in the coming factors. Here:
1. EffDi Dots(Update, releasing soon) pullback on Inverse H&S neckline
IN my last BTCUSD post, I called an Inverse H&S pattern in the EffDi. The EffDi dots(releasing soon) had a pullback on the neckline, timing the bottom of the price after the 37k move.
2. Plummet from 37k stopped by 33.3k support and MA channel
The pullback from 37k was halted with the supports. We can interpret that the bulls have really arrived, and the 37k move was not a fake. The MA channel was touched 4 times as support in 2 days, indicating the strong presence of the bulls in the MA channel.
3. Mini consolidation in Inverse H&S of price
Price has its own iH&S pattern. In the right shoulder, we have a mini triangle, essentially the Elliott Wave 2 of the trend. This indicates that the breakout to 37k isn't false. If it was false we would see a plummet all the way to 30k.
4. Down bars have blue(low) volume after 37k move
The bears have recognized the break of the yellow trendline. Down bars were weak compared to the up bars in the Mini Consolidation. Bulls are positioning, and the big ones are accumulating.
5. IF ETHUSD breaks ATH, the crypto world will have a full bull move
ETHUSD is considered by many to be the biggest cryptocurrency in the sense that it moves other cryptos. A break in the red resistance in the lower pane of the chart may make Bitcoin explode even more. Get ready!
6. IF yellow trendline breaks again, it may mark the start of a bull run
The yellow trendline has halted all rallies since the start of January. The trendline however did not halt the 37k move, that is why it is very special. We just need another break and then we are all set.
Definitely, bitcoin is in a new era of a bull run! Take these factors.
Thank you for reading! Do not forget to like and follow. What do you think? Comment below, love to hear your opinion!
Indicators used:
MA Channel(MAC) by Trader Jacob Bernstein, best-selling author. MA periods modified by Trader_ph.
VOlume Heatmap by xdecow.
EffDI by Trader_ph. EffDi dots releasing soon, still testing.
BTCUSD a few days ago boomed to 37k in mere hours. However, many said this was a fake breakout. I say different. I will explain in the coming factors. Here:
1. EffDi Dots(Update, releasing soon) pullback on Inverse H&S neckline
IN my last BTCUSD post, I called an Inverse H&S pattern in the EffDi. The EffDi dots(releasing soon) had a pullback on the neckline, timing the bottom of the price after the 37k move.
2. Plummet from 37k stopped by 33.3k support and MA channel
The pullback from 37k was halted with the supports. We can interpret that the bulls have really arrived, and the 37k move was not a fake. The MA channel was touched 4 times as support in 2 days, indicating the strong presence of the bulls in the MA channel.
3. Mini consolidation in Inverse H&S of price
Price has its own iH&S pattern. In the right shoulder, we have a mini triangle, essentially the Elliott Wave 2 of the trend. This indicates that the breakout to 37k isn't false. If it was false we would see a plummet all the way to 30k.
4. Down bars have blue(low) volume after 37k move
The bears have recognized the break of the yellow trendline. Down bars were weak compared to the up bars in the Mini Consolidation. Bulls are positioning, and the big ones are accumulating.
5. IF ETHUSD breaks ATH, the crypto world will have a full bull move
ETHUSD is considered by many to be the biggest cryptocurrency in the sense that it moves other cryptos. A break in the red resistance in the lower pane of the chart may make Bitcoin explode even more. Get ready!
6. IF yellow trendline breaks again, it may mark the start of a bull run
The yellow trendline has halted all rallies since the start of January. The trendline however did not halt the 37k move, that is why it is very special. We just need another break and then we are all set.
Definitely, bitcoin is in a new era of a bull run! Take these factors.
Thank you for reading! Do not forget to like and follow. What do you think? Comment below, love to hear your opinion!
Indicators used:
MA Channel(MAC) by Trader Jacob Bernstein, best-selling author. MA periods modified by Trader_ph.
VOlume Heatmap by xdecow.
EffDI by Trader_ph. EffDi dots releasing soon, still testing.
