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.
Don't you think it will retest upon 58k,62k and 64k levels? considering previous price data?
CFcryptoTA
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@hassanashrafgagai4 yes the 59k to 63k is a resistance area. However, at 51500, we had a very important resistance (thick black line). we broke it and I expect the price to rise aggressively soon after the retest. now we are due for a retest before heading to 80 k by middle November. That s the price target of the price pattern we just confirmed, however, I expect BTC to multiply that and reach 165 k by January. For now, I will look at 80 k. 63k is the real last strong resistance