Is BTC about to remind us why it´s the most bullish asset ever?
Welcome!
If you look at my past couple of analysis you´ll see mixed signals. While I was bullish on the weekly and monthly time frame since late October, I definitely didn´t expect we would go to 20k so fast. In fact, my last analysis was pointing out how it is likely we get a classic -30% bull market drop to retest some key areas and I was expecting that drop would happen somewhere around 16 to 17k.
The main factor behind that thesis was 3D volatility - BTC has moved from 12k to 20k yet 3D volatility remained low and is, in fact, still very low.
But something has changed.
BTC got a hash ribbon buy signal, a signal that has historically, so far, never been wrong and always produced at least a 20% move up and sometimes the moves that followed a hash ribbon buy were a couple of hundred percent.
Since it is such a reliable signal, the directional bias simply has to be up. Adding that to the fact that 3D volatility remains low and that it seems to be confined in some sort of a consolidation the only logical conclusion is this:
BTC is going parabolic once again, targeting anywhere between 25 000 and 32 000$.
If you look at my past couple of analysis you´ll see mixed signals. While I was bullish on the weekly and monthly time frame since late October, I definitely didn´t expect we would go to 20k so fast. In fact, my last analysis was pointing out how it is likely we get a classic -30% bull market drop to retest some key areas and I was expecting that drop would happen somewhere around 16 to 17k.
The main factor behind that thesis was 3D volatility - BTC has moved from 12k to 20k yet 3D volatility remained low and is, in fact, still very low.
But something has changed.
BTC got a hash ribbon buy signal, a signal that has historically, so far, never been wrong and always produced at least a 20% move up and sometimes the moves that followed a hash ribbon buy were a couple of hundred percent.
Since it is such a reliable signal, the directional bias simply has to be up. Adding that to the fact that 3D volatility remains low and that it seems to be confined in some sort of a consolidation the only logical conclusion is this:
BTC is going parabolic once again, targeting anywhere between 25 000 and 32 000$.
Comment:
We´ve gotten the volatility breakout right as Bitcoin broke through 20k and made a new ATH. Higher prices are very likely, my personal estimate is 33 000 dollars.
Comment:
Target reached.
It looks like it may go higher from here.
It looks like it may go higher from here.