The only 3 things we need to KNOW for a REAL BITCOIN BULL RUN !
lets keep it simple as always:
looking a the chart like this is so simple and clear, no spaghetti charts with a million indicators,
for a new bull run to star the first thing we need is, for the monthly candle to close over the 21 EMA,
second, a monthly candle to close above the trend line,
and the most IMPORTANT thing we need is to put a new higher high OVER previous lower high at $10 522,21
(all 3 step above can be done in 1 candle, it doesn't need to be different candles for each step)
once we do that, the downtrend has been broken, simple end of story,
does it mean that once price breaks $10 522 it will never go down under, definitely not, but the downtrend is no longer valid on the monthly chart and it is very meaning full to break a trend on the monthly chart, we could go into a consolidation period, retesting previous support levels putting a new higher low and change the trend to an uptrend retesting previous highs at $13 868, $17 178, $19 819 and hopefully put a new high for bitcoin, (remember an uptrend consist of minimum 2 higher highs and 2 higher lows)
any questions please don"t hesitate and please subscribe for me to keep putting content,
be safe traders
looking a the chart like this is so simple and clear, no spaghetti charts with a million indicators,
for a new bull run to star the first thing we need is, for the monthly candle to close over the 21 EMA,
second, a monthly candle to close above the trend line,
and the most IMPORTANT thing we need is to put a new higher high OVER previous lower high at $10 522,21
(all 3 step above can be done in 1 candle, it doesn't need to be different candles for each step)
once we do that, the downtrend has been broken, simple end of story,
does it mean that once price breaks $10 522 it will never go down under, definitely not, but the downtrend is no longer valid on the monthly chart and it is very meaning full to break a trend on the monthly chart, we could go into a consolidation period, retesting previous support levels putting a new higher low and change the trend to an uptrend retesting previous highs at $13 868, $17 178, $19 819 and hopefully put a new high for bitcoin, (remember an uptrend consist of minimum 2 higher highs and 2 higher lows)
any questions please don"t hesitate and please subscribe for me to keep putting content,
be safe traders