Away from the noise of the bulls and bears, looking at BTC chart Price Action:
1) BTC broke above the Q1/A2 highs; forming a higher high marked in purple line.
2) BTC broke the 8W SMA, blooding the Alts typically.
3) BTC now is to set a higher low on the weekly chart anywhere above 20W SMA/ 21W EMA band before the weekend candle close this coming Sunday.
3) A wick below these levels on the daily is always a possibility to punish margin traders, but not a must. And if and only if the wick is in the cards, I don't see it this week. It'd be early next week before BTC rallies north for the monthly close candle due next week.
4) The 4H Chart for now, remains bullish. The daily chart is definitely bullish. Both are in terms of the Weekly SMAs, S&R and daily Ichimoku Cloud.
SPECULATION:
Alts Season may get triggered as Bitcoin rallies up next week due to the fact that all Total Market Cap 1, 2 & 3 maintained their FIB extension level, but that to be addressed in a separate chart in time.
1) BTC broke above the Q1/A2 highs; forming a higher high marked in purple line.
2) BTC broke the 8W SMA, blooding the Alts typically.
3) BTC now is to set a higher low on the weekly chart anywhere above 20W SMA/ 21W EMA band before the weekend candle close this coming Sunday.
3) A wick below these levels on the daily is always a possibility to punish margin traders, but not a must. And if and only if the wick is in the cards, I don't see it this week. It'd be early next week before BTC rallies north for the monthly close candle due next week.
4) The 4H Chart for now, remains bullish. The daily chart is definitely bullish. Both are in terms of the Weekly SMAs, S&R and daily Ichimoku Cloud.
SPECULATION:
Alts Season may get triggered as Bitcoin rallies up next week due to the fact that all Total Market Cap 1, 2 & 3 maintained their FIB extension level, but that to be addressed in a separate chart in time.
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