As I stated in my last post, I was confident that we would SMASH the 200DMA on the second time round, without any problem.
I have not had to change a single annotation here, the 200 DMA has declined in alignment with expectations and Bitcoin is just doing Bitcoin.
Nothing to see here?
Well, except for the shorts. BTCUSDSHORTS are CLIMBING. And this is Good news.
We are getting set up for a short squeeze. Despite this rather impressive move, the bears will think they can get cute and squeeze a profit on the downside.
We're still in a BEAR MARKET they will scream, pessimism is still there and for Bitcoin to continue higher we need the wrong side to be the BEARS.
Momentum has changed, longer time frames are BULLISH, look at the Oscillators in my chart - CMF MACD OBV all bullish.
The next stop is $10,000 I talked about this in my last post about a race to $10,000 Bitcoin
and as the BTCSHORTS continue to pile up and the price continues to rise, panic will set in and the short squeeze will follow.
Meanwhile the ALT BTC part continues, but beware - once we get the short squeeze BTC will go PARABOLIC and the ALTBTC pairs will get crushed
again so consider taking profit soon.
MY chart remains unchanged, I am looking for $10,000 a retest of this new support and carrying on much higher.
Next step soon - FOMO! :)
I have not had to change a single annotation here, the 200 DMA has declined in alignment with expectations and Bitcoin is just doing Bitcoin.
Nothing to see here?
Well, except for the shorts. BTCUSDSHORTS are CLIMBING. And this is Good news.
We are getting set up for a short squeeze. Despite this rather impressive move, the bears will think they can get cute and squeeze a profit on the downside.
We're still in a BEAR MARKET they will scream, pessimism is still there and for Bitcoin to continue higher we need the wrong side to be the BEARS.
Momentum has changed, longer time frames are BULLISH, look at the Oscillators in my chart - CMF MACD OBV all bullish.
The next stop is $10,000 I talked about this in my last post about a race to $10,000 Bitcoin
and as the BTCSHORTS continue to pile up and the price continues to rise, panic will set in and the short squeeze will follow.
Meanwhile the ALT BTC part continues, but beware - once we get the short squeeze BTC will go PARABOLIC and the ALTBTC pairs will get crushed
again so consider taking profit soon.
MY chart remains unchanged, I am looking for $10,000 a retest of this new support and carrying on much higher.
Next step soon - FOMO! :)