BITSTAMP:BTCUSD   Bitcoin
Congratulations to those of you following me last month. We are now dancing on 30% profit ish from our entries. I was screaming to buy at 40k, although I was expecting a flash dip to 37, and instead, we got only 39. Nevertheless, BTC has resumed its rally. In many charts and videos, I explained that this was only a healthy retracement (50k) of the first minor wave of the new primary trend bull market. BTC is now completing an extended minute wave 1, which I expect to end at around 55k. It will then take a few days of retracement for people to take some profit to start an aggressive move up to reach the ATH. If BTC will fail to break the current diagonal resistance it will retrace to 48500 before smashing through that resistance. In the 4h, BTC has now created a golden cross. The last one was on 26 July before the previous short term rally.
As you can see, BTC is now fighting with arguably the most critical resistance of the last 6 months from the peak of 14 March. A breakthrough and close above this level will reiterate the imminent bull run. One of the most important bullish signs was painted on the weekly timeframe...a weekly bullish engulfing. Do not forget that candlestick pattern reversal moves last between 5 to 10 times the timeframe unit. In this case, we can expect 5 to 10 weeks of a bullish move.
I will update you soon on the altcoin market. However, the strength now is going into BTC with the dominance increasing, and I expect the altcoin to follow BTC for the next week, but underperforming compare to BTC.
Good times ahead.

CFcryptoTA
check the youtube channel out
youtube.com/channel/UC1nxHmfbU0pyoX7Bp-ayDuA

Telegram channel for 1 to 1 chat: t.me/TAEW4
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.