Ladies and Gentlemen, spring us almost upon us once again. With it, nature comes booms back to life, we are witnesses to the trees and flowers beginning to blossom, we're being teased with warmer weather, and our dear friend Bitcoin is starting to kick back into gear. When analyzing the future of BTC you can find 20 different "experts" who will give you 40 different expectations, some bearish, many bullish, some think its worthless, and some think it should be $1M. But no matter what you believe there is one constant that remains, people BELIEVE in this industry and in its potential. Now I'm not saying belief alone is enough to push an industry past all the FUD, all the fear, or all the corporate naysayers who are scared of crypto making their business obsolete. But what I am saying is that smart, hard working people all over the WORLD are dedicating their lives to the development of crypto, and that should spark inspiration in all of us. People from all walks of life working to bring together a fair and accessible financial system to better connect people and business around the globe is something I can get behind; and with BTC being for forerunner it has to garner most of our attention for the time being.
With that said lets hop into the 1D chart of BTC! 1D is looking great, we saw a beautiful morning doji form on the 25th, followed by a long green candle to confirm a bullish pattern. From there we can see that BTC is finding new levels of support around 10300, and is currently forming a bullish engulfing pattern over the 2/28 candle. Ideally this candle stays long and green today which should set us up nicely to gather support near the .5 Fib retracement (near 10900 or 11000).
MACD 12 has risen over the 26, and is braking above 0 for the first time in since January. The last time we saw this MACD pattern where it broke above the 26 and over the 0 was October of last year and was proceeded by a MASSIVE bull run. Let's pay close attention to what happens the next week or so and hopefully get our space suits ready.
Rainy Thursday mornings call for Jack Johnson and too much coffee.
Not financial advice - DYOR - Louisville plays Virginia tonight, Cards need a big W here to become a lock for the tournament.
-Delgado-
With that said lets hop into the 1D chart of BTC! 1D is looking great, we saw a beautiful morning doji form on the 25th, followed by a long green candle to confirm a bullish pattern. From there we can see that BTC is finding new levels of support around 10300, and is currently forming a bullish engulfing pattern over the 2/28 candle. Ideally this candle stays long and green today which should set us up nicely to gather support near the .5 Fib retracement (near 10900 or 11000).
MACD 12 has risen over the 26, and is braking above 0 for the first time in since January. The last time we saw this MACD pattern where it broke above the 26 and over the 0 was October of last year and was proceeded by a MASSIVE bull run. Let's pay close attention to what happens the next week or so and hopefully get our space suits ready.
Rainy Thursday mornings call for Jack Johnson and too much coffee.
Not financial advice - DYOR - Louisville plays Virginia tonight, Cards need a big W here to become a lock for the tournament.
-Delgado-