Everything is pointing upwards for BTC at the moment. We have a bullish TK cross and the price is already broken into our cloud. Nothing looks like it could stop it from making a full break up and out of the cloud as our triangle formation is telling us that the buyers are beating out the last of the sellers and we have the upward momentum to back up this conclusion. We have heavy support from the light-purple line and some resistance at the orange, but it all looks ready to go! The lagging span is also bullish as well, being sufficiently sustained above the pricepoint and already broken into the cloud. There is little probability that the price will get shut down.
Beyond TA, we all know that the BTC halving is due in May. Although in the past, the price usually begins its upward trend -after- the halving, I speculate that there are more highly-educated, institutional, big-money players out there who are accumulating around this area because they know this is one of the last few chances that they'll have of picking BTC around these price levels. Usually, after a bear market changes to a bull, it takes around 3 pumps for it to change direction. This is the beginning of the second, so the price -could- get shot down again in the next coming months.
Considering everything that's going on in the global financial markets though, where the 10-year Treasury bond's yield has already dropped by 50 basis points just the other day, the Fed's unsustainable quantitative easing practices, the price of crude oil dropping significantly with a heavily bearish TK cross set upon it, and the volatility in the markets and unpredictability of gold (where it had also gone down with everything else when some expected it to go up and be used as a save-haven), anything is possible. The second pump -might- be the last. Or it might not. Even so, it's at a good price, so if I bought into BTC at this moment and it went down, I wouldn't worry -anyways- since over the next year or so, the long-term gains will make up for the momentary losses.
Big players and governments are already invested in this space. Financial institutions are only starting to get a piece of the binary pie. You don't wanna buy it when it's already going up. Think contrarian. This is the appropriate time to think the opposite of everyone else, because if you're with them, then you're not ahead of them.
This is the beginning of the bull run, if not this pump, then the next. It's only a matter of time...
I hope this helps.
-LB
Beyond TA, we all know that the BTC halving is due in May. Although in the past, the price usually begins its upward trend -after- the halving, I speculate that there are more highly-educated, institutional, big-money players out there who are accumulating around this area because they know this is one of the last few chances that they'll have of picking BTC around these price levels. Usually, after a bear market changes to a bull, it takes around 3 pumps for it to change direction. This is the beginning of the second, so the price -could- get shot down again in the next coming months.
Considering everything that's going on in the global financial markets though, where the 10-year Treasury bond's yield has already dropped by 50 basis points just the other day, the Fed's unsustainable quantitative easing practices, the price of crude oil dropping significantly with a heavily bearish TK cross set upon it, and the volatility in the markets and unpredictability of gold (where it had also gone down with everything else when some expected it to go up and be used as a save-haven), anything is possible. The second pump -might- be the last. Or it might not. Even so, it's at a good price, so if I bought into BTC at this moment and it went down, I wouldn't worry -anyways- since over the next year or so, the long-term gains will make up for the momentary losses.
Big players and governments are already invested in this space. Financial institutions are only starting to get a piece of the binary pie. You don't wanna buy it when it's already going up. Think contrarian. This is the appropriate time to think the opposite of everyone else, because if you're with them, then you're not ahead of them.
This is the beginning of the bull run, if not this pump, then the next. It's only a matter of time...
I hope this helps.
-LB
