BTC – it has just started - the new bull run

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hi Guys!

BTC holds pretty strong even though we had this massive bounce up lately.

In term of technical analysis , the situation looks very healthy.

Here is why:

Ichimoku Cloud – the favourite indicator of people from Asia where the cryptos have the highest volumes.
On the daily chart , the situation is the best possible. This is the best setup.

1. The price is above the cloud and Tenkansen (red line)
2. Tenkansen crossed Kijunsen(blue) and they both are above the cloud.

WBM BUY/SELL Indictor – the price is saturated so we can expect a small correction.
It can be really small taking into account the trend has changed.

Weis Waves – Still we have much demand and almost no supply.
There is no correction on the horizon.

To sum up.

Although there is no correction on the horizon we can expect small one to $4500 - $4700.

The investors have to finally take their profit.

Anyway, we are still bullish on BTC and finally, we can confirm the trend reversal.

Let us know what you think.
WBM Team
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great analysis thank you :)
@LA_TRADE, thank you.
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