Hello guys and girls
BTC is looking to get out from this accumulation process, so far this major Resistance level on 39k is now becoming support. The question is, Is this the beginning of the next bull run? I'd say yes, I saw the bottom on $29,200 and the price reached $29,313, pretty close.
But let's take a loook at he trend, EMAs and indicators.
After a nice drop on May 12th, The price went on ups and downs and started a nice accumulation season since May 19-20 as it was analyzed in my previous post on Jun 1st and its updates, here is the link to that
and the other chart showing a BAT pattern on Jun 11
I am not like other traders that hide or delete their mistakes or charts, you can go on my TL and check for my predictions and Updates.
Accumulation season, seems to be over but according to that huge Cypher pattern, the price was inside that blue box, I was expecting the price to break 36.8kand it did but, it also did previously and went back into it.
Also for the 3rd time BTC is touching that nice resistance on 40k as it did on June the 14th and May the 26th, however, what's different now? well the powerful 150 EMA is touched for the first time since May the 15th when it became resistance and now it's acting as support as it did sin Sep the 23rd 2020.
For some traders we are having mixed patterns and trends, in one hand we are under that scary death cross (50 EMA over 200 EMA), but in the other hand 100 EMA 150 EMA and 200 EMA are now support and that's positive.
So, what's my expectation well I'd say that we are in buying levels, so if you want to buy, this is the time, I'm not financial adviser, this is just for educational purposes and some adrenaline and the fact that harmonics patterns are underestimated.
I think we are going to brake 40k-43k as we did on Feb the 8th with a nice green candle and my targets on 47k-50k-53k will be fulfilled.
RSI is showing a bit of oversold levels, maybe we need to cool down and go back to 36.8k to gain power again and move up, 7 EMA and 21 EMA just crossed to bullish but, they are below of 50 midpoint on RSI, I think consolidation/accumulation is going on for a few more days but with bullishness trend.
Stay tuned and trade safe
BTC is looking to get out from this accumulation process, so far this major Resistance level on 39k is now becoming support. The question is, Is this the beginning of the next bull run? I'd say yes, I saw the bottom on $29,200 and the price reached $29,313, pretty close.
But let's take a loook at he trend, EMAs and indicators.
After a nice drop on May 12th, The price went on ups and downs and started a nice accumulation season since May 19-20 as it was analyzed in my previous post on Jun 1st and its updates, here is the link to that
I am not like other traders that hide or delete their mistakes or charts, you can go on my TL and check for my predictions and Updates.
Accumulation season, seems to be over but according to that huge Cypher pattern, the price was inside that blue box, I was expecting the price to break 36.8kand it did but, it also did previously and went back into it.
Also for the 3rd time BTC is touching that nice resistance on 40k as it did on June the 14th and May the 26th, however, what's different now? well the powerful 150 EMA is touched for the first time since May the 15th when it became resistance and now it's acting as support as it did sin Sep the 23rd 2020.
For some traders we are having mixed patterns and trends, in one hand we are under that scary death cross (50 EMA over 200 EMA), but in the other hand 100 EMA 150 EMA and 200 EMA are now support and that's positive.
So, what's my expectation well I'd say that we are in buying levels, so if you want to buy, this is the time, I'm not financial adviser, this is just for educational purposes and some adrenaline and the fact that harmonics patterns are underestimated.
I think we are going to brake 40k-43k as we did on Feb the 8th with a nice green candle and my targets on 47k-50k-53k will be fulfilled.
RSI is showing a bit of oversold levels, maybe we need to cool down and go back to 36.8k to gain power again and move up, 7 EMA and 21 EMA just crossed to bullish but, they are below of 50 midpoint on RSI, I think consolidation/accumulation is going on for a few more days but with bullishness trend.
Stay tuned and trade safe