Short Term Bullish Signal Almost Confirms Bitcoin Bull Market
Hello Folks, I want to jump right into this. The chart is the four hour chart. We are close to lift off. We really need to break our resistance 11800, hit 12k and sustain the momentum. The neck line has been tested from this chart is showing and it looks as if we will have a breakout. Even though this looks to be a short term bull run, it's looking good overall as this will help turn the tables on this bear market we are in.
Our daily chart looks like it confirmed a bear signal around the 26th, 27th, but the bulls kept battling and erased that signal with good volume. It's extended it for some at least a few days. You can see the downward channel we were trading in before. In order for us to break out, we need to test the top of the channel, which we did, and sustain this movement by ensuring our 2nd candle formed above the channel closes above the channel. We will see heavy resistance at 12k, but if we can inch closer to 12k, we will see a breakout within a couple of weeks.
Our Weekly chart looks promising as our macd, with how it's looking, appears to look to confirm a bullish macd crossover within 3 weeks. With how everything is playing out, 3rd/4th week of March could be the start of the 2018 bull run.
I got side tracked, back to the chart. Right shoulder of the inverse head and shoulders has filled. Took longer time then I would of expected, nonetheless, it filled and tested it's neck line. We need to get closer to 11800. Macd looks weak, and BTC is trading sideways. If we can test the 11800 mark, we will be able to test 12k. If the prediction above was to come true, we need to sustain support at these levels and trade in between 11k-12k for this week. If test 12k and we had the volume to support this breakout we will get a confirmation for a Bull Market before April hits.
P.S. Keep in mind, a few weeks from now, this time last year started a major BTC bull run.
****This information is not a recommendation to buy or sell cryptocurrency. This is to be used for educational purposes only.
Our daily chart looks like it confirmed a bear signal around the 26th, 27th, but the bulls kept battling and erased that signal with good volume. It's extended it for some at least a few days. You can see the downward channel we were trading in before. In order for us to break out, we need to test the top of the channel, which we did, and sustain this movement by ensuring our 2nd candle formed above the channel closes above the channel. We will see heavy resistance at 12k, but if we can inch closer to 12k, we will see a breakout within a couple of weeks.
Our Weekly chart looks promising as our macd, with how it's looking, appears to look to confirm a bullish macd crossover within 3 weeks. With how everything is playing out, 3rd/4th week of March could be the start of the 2018 bull run.
I got side tracked, back to the chart. Right shoulder of the inverse head and shoulders has filled. Took longer time then I would of expected, nonetheless, it filled and tested it's neck line. We need to get closer to 11800. Macd looks weak, and BTC is trading sideways. If we can test the 11800 mark, we will be able to test 12k. If the prediction above was to come true, we need to sustain support at these levels and trade in between 11k-12k for this week. If test 12k and we had the volume to support this breakout we will get a confirmation for a Bull Market before April hits.
P.S. Keep in mind, a few weeks from now, this time last year started a major BTC bull run.
****This information is not a recommendation to buy or sell cryptocurrency. This is to be used for educational purposes only.
Comment:
If BTC continues to dip, support will be @11000. The one day chart looks interesting. We are just trading in the channel hitting the top of the channel. We must break 11800 and knock on 12000's door this week, otherwise it's showing we will just fluctuate in this channel. Bulls must not allow the bears break 11k this week.