Here we have the 1,2,3,4 Steps Pattern that we've been looking at on multiple charts throughout the Cryptocurrency market.
We saw this pattern with Altcoins, indexes and the king Bitcoin.
Note: #3 Can vary between a higher low and lower low compared to #2.
The bottom low for Bitcoin was hit in November 2022. After some months of consolidation a new bullish wave developed that lasted until late February, this is #1.
After a strong bullish move, a correction and this is shown here as #2.
After the correction we see the resumption of the bullish move peaking mid-April.
The first correction was irregular, swings up and down. The second correction is regular forming a falling wedge, this goes in accordance with Elliots law of alternation.
#3 Is the higher low... What follows, is a new bullish wave, a new bullish move... The resumption/continuation if the initial impulse.
Higher highs lead to higher lows.
We have a target of $35,000 for August 2023. We see $38,000 possible/happening in November 2023. There will be volatility and some wild price swings in-between.
But everything within a higher low long-term when comparing the bear market bottom in November 2022.
We are in the recovery phase after the bear market.
2024 we get a full blown bull-market.
And we likely get a new All-Time High in 2025...
Then all hell breaks loose and the cycle repeats... That is, Bitcoin breaks down and the bears start to win.
✔️ $20,000 Is the main and most important level to protect.
A year ago Bitcoin peaked at $25,000 in August, today it trades above this level.
✔️ $20,000 Is the 2017 peak. ✔️ $20,000 Is when El Salvador launched its Bitcoin Bonds.
Bitcoin above $20,000 is ULTRA-STRONG, based on the long-term.
Remember the charts where I compared the SPX, NDX, DJI, TSLA, etc. with Bitcoin? They all went ahead... Bitcoin is set soon to follow.
MAKE MONEY! Maximize profits. Take advantage of this information. You know what is going to happen... Bitcoin is going up!
Namaste.
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We have some bullish signals coming off of the daily RSI.
(1) We can see a break of the local downtrend coming of the 28-May peak. (2) We can see a recovery above the 0.786 Fib. retracement level. (3) From 13-May through 14-June the RSI tested 37 as support. This level holds and a strong bounce takes place. (4) 14-June the RSI hit its lowest level since 11-March, marking a month long higher low.
Currently sitting at 48, BTCUSD Daily is becomes officially bullish at 50 on the RSI.
These signals are looking good and the day is about to close full green.
The weekly timeframe is also looking good based on candlestick reading. This weekly close should be important to gauge short-term potential.
Mid- to Long-term, the bigger picture is UP!
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Bitcoin has now gone bullish on the weekly timeframe with only 1 day left before the session closes.
We have a perfect falling wedge pattern and a hammer candlestick; green. Weeks of correction have been recovered within days...
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The Renko chart 4H looks good:
Daily not good, bearish.
On the weekly, we have nothing since April.
A strong close tomorrow can work as a great bullish signal.
If the close isn't strong we continue bullish but awaiting the consolidation to be over short-term.
We are going to $35,000 in August, or maybe here...
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3LB looks great on the daily and 4H...
Overall the majority of the signals are leaning towards a reversal. It only needs time now to develop.
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Tomorrow if a decisive day if today the session ends green.
We have not seen 5 consecutive green close since January 2023. If this happens, a bearish pattern is broken and a strong bullish signal goes out.
We need today (Sunday) and tomorrow (Monday) green for this to happen.
Today is the new Moon. Let's see how it goes...
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We didn't get a bullish close yesterday but things are looking good so far. Above $26,500 is pretty good... So far bear pressure has been removed, only shakeouts.
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🍀 2+2 = BULLISH CRYPTOCURRENCY (MONEY OR SPIRIT)
The time has come... Good evening my fellow Cryptocurrency traders, believers and lovers.
Good day my new and long-term supporters... How did you manage the wait?
The bullish wave is here, it will be pretty obvious within days.
Allow me a few minutes of your time to entertain you with some words... Might be some words at random but what is there to do? Reading leads to learning, learning leads to growth.
Growth leads to courage, with courage you can be more open and decide yes when the time comes to express.
Openness and expression are the type of action that leads to soul growth.
But who wants their soul to grow? We want happiness and we want it now!
We look for happiness through a family, relationships, money, wealth, spirituality, work... Beauty, elegance, success?
These things we go after because we think they will make us happy or at least give us that feeling of fulfillment which we forgot is the reason we started striving for something, towards something in the first place.
The bullish wave is here and is going to be fun. It is fun because it is profitable and we are here to learn while we earn, so it should be nice when the learning produces earnings... The wait is done.
If you are looking for money... Wake up! If you want spiritual growth... Wake up!
You need the two, 2+2. Personal growth leads to financial growth which in turn can open the doors for spiritual growth.
The first step is to face your fears, get through any blocks.
The rest will come.
Namaste.
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Thanks to all those who follow me, those that supported me and those of you that continue to comment and read, your support is truly appreciated.
Now that the bullish bias has been confirmed you might be wondering, where is Bitcoin headed to next?
I have two trade ideas for you with the answer, long-term and a trade signal with specific numbers for the mid to short-term.
🅱️ Bitcoin's Most Important Long-Term Indicator 180K-250K ATH
🅱️ 10X Lev. BTC (XBTUSD) Long Trade Signal (730% Potential)
See you on the next one.
Namaste.
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We have really good news and that is that Bitcoin continues moving forward.
Each time we are at a cross road there is always one or more Cryptos that move first, that lead the market.
We were using XRP recently but it lost its momentum and is now staying behind.
Last year it was Dogecoin and Litecoin.
Right now it is Bitcoin Cash.
As the 3 days long consolidation started, people were fast to doubt Bitcoin Cash continued to move forward.
It doesn't matter what happens as long as one is moving forward, the rest will follow.
Just notice how far up Bitcoin Cash goes, based on this we can know what the rest of the market will do... We already know that we are set for a "new bullish wave", here labeled as #4.
@AlanSantana, thank u August is the golden cross July we shall pass 29k We will make 29k as a support From there U only look north :)))
AlanSantana
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@meveme, Yes with volatility but money slow and steady rather than a big jump up.
Another point to keep in mind is that everything will grow together this time. Bitcoin, Altcoins and ALTSBTC, which will be great for sure.
meveme
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@AlanSantana, very true Interesting also I was thinking about it today I am watching the market very closely In the past Btc pumped alts stay steady Btc went to retrace and consolidation Alts started to pump Now Everything just about moving together Some of the alts have a very very similar charts
When it goes oversold, it is a sure reversal signal. It went oversold 3 times and started to produce bullish divergence, now we see Bitcoin moving up strong. That's the one that I look for... Check it out.
meveme
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@AlanSantana, yes I used to look at 15 and 1H very closely But I am looking at some other bigger times frames Like 4H 1 day or even 3d Yes 1H Remember I told u almost 1 month ago When 1H goes over sold u can see the change in trend . Reversal
Higher price + lower RSI = Bullish