For those who ask loud bullish predictions. I don't post great bullish charts with daring targets, as TV has a lot of this. I post side views that could be interesting. So.
This is what I meant few weeks ago when said "I can't ignore weekly MACD".
For first, there was a bullish hook.
For the second there is some heuristical deduction:
1. Bitcoin is bullish? Obviously yes. Candles are above BB.
2. Can the bullish Bitcoin have bearish divergence on weekly MACD? No way.
3. So if price reverse now, there would be bearish divergence on macd as macd local top would be lower than ATH top. Okay.
4. So can the price reverse now? No way.
5. So where MACD must reverse to fit into correct Bitcoin bullish picture? Well above macd ATH. See in PIC.
And now, extrapolate candles to match such macd to measure approximate location of next local top. It must be well above ATH. Well above $30k.
I saw similar picture when Bitcoin was on the way to brake its first historical top at $31.
This is what I meant few weeks ago when said "I can't ignore weekly MACD".
For first, there was a bullish hook.
For the second there is some heuristical deduction:
1. Bitcoin is bullish? Obviously yes. Candles are above BB.
2. Can the bullish Bitcoin have bearish divergence on weekly MACD? No way.
3. So if price reverse now, there would be bearish divergence on macd as macd local top would be lower than ATH top. Okay.
4. So can the price reverse now? No way.
5. So where MACD must reverse to fit into correct Bitcoin bullish picture? Well above macd ATH. See in PIC.
And now, extrapolate candles to match such macd to measure approximate location of next local top. It must be well above ATH. Well above $30k.
I saw similar picture when Bitcoin was on the way to brake its first historical top at $31.