2 largest coins are still way above the 21EMA forming both higher highs in an ascending wedge, which should be bearish, but in this case seems more like a bullflag, which can take BTC to 60K.
We are nearing as well, for the first time a 1T USD market cap if BTC reaches 53670 USD ! This is clearly a target for many people, so we might see this in the next run-up.
Still there is always a possibility for a fake-out and a correction, as we just touched the 50K, we could go back down to 45 or 40K. So we must be cautious.
As long as we keep the 21EMA (green curve), we are still bullish, even if we near the 50 or 100 EMA
PS: I made a mistake on the horizontal level, where I wrote in green: 1B usd market cap, which should be 1T usd of-course.
We are nearing as well, for the first time a 1T USD market cap if BTC reaches 53670 USD ! This is clearly a target for many people, so we might see this in the next run-up.
Still there is always a possibility for a fake-out and a correction, as we just touched the 50K, we could go back down to 45 or 40K. So we must be cautious.
As long as we keep the 21EMA (green curve), we are still bullish, even if we near the 50 or 100 EMA
PS: I made a mistake on the horizontal level, where I wrote in green: 1B usd market cap, which should be 1T usd of-course.
Comment:
atm I am not sure whether this would work out.. be cautious. We could have a sudden increase, but a slow decline as well if we don't get above the 50K quickly..50K could be a target as well, and we've reached it.