Crypto-Coin-Trader

Finally the end of the bear, start of the bull?

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello traders,
hello hodlers,

i hope you are all fine in terms of your health because of the global pandemic!

The most informations should be very clear in the chart.
I really like to watch in big time frames, because i can see much clearer where we are now.

Good news:
- we have exiting the downward channel , which we were in since mid of 2019
- we are above the 21 week EMA
- we are above the multi year resistance (since 2017 - last ATH )
- we are in a period of consolidation and stable price movement

Bad news:
- we are not above the multiyear support line (blue)

Those are the facts without any speculation.


Now the question is like every time before ... what will happen next?
And my answer, my own opinion is:

We will see higher highs, BUT we could again see a so called "shake out" which bring us back to 6,400 (in the worst case).
I see no reason at this point, where we could fail and miss the next phase of a really big bull market.
But i see many reasons why the market could try to trick people to sell there Bitcoin once again, before we are leaving those price levels forever.

What does this mean for me?
I will not sell, nothing... But if we drop again, i will buy as much, as the FED is printing money ;-)

This is no financial advice, iám not your financial advisor. Only my opinion, my thoughts.
Take your own risks, on your own choices.
Comment: We are over 10,800 USD and now we are over the multiyear support line (blue).
Let´s wait how this week will close!
Comment: Today was a touch of the 21 week EMA (@ around 9,950 USD).
Will it hold as support?
If so, that would be a massive bull sign!
Comment: And again, we are over the multiyear support line (blue).
Let´s wait how this week will close!

If we close this week and also next week above 12k, things could go really well for the rest of this year!
Comment: Chart update:

Comments

Can you update the RSI 14 indicator ?Thx
Reply
@MrRoy, here is the new chart. RSI now up-to-date. Enjoy ;-)

Reply
multiyear support line (blue)......now,above?Thx.......
Reply
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