BTC Exclusive chart: This is an amazing development in Bitcoin's price action.
If you are reading this congratulations, you made it this far, you are gonna make it all the way to the next BULL RUN too! The one with patience will be awarded eventually. WHEN RICHES COME, IT COMES IN SUCH ABUNDANCE THAT ONE THINKS ABOUT WHERE THEY HAVE BEEN HIDING DURING THOSE LEAN YEARS!! Believe me, it’s true! You'll feel this when the right time comes.
Many people lost. A lot of their lifetime savings, it;’s time you prepare NOT TO repeat the same mistakes in the coming years. This is why rather than just gambling on futures, look at the long picture, and zoom out a bit. Good things take time. So the message is not to make mistakes and choose the right step to ensure your sustainability till BTC covers the next bull run.
Now let's get back to Bitcoin. Apart from all of the previous FUDs, Bitcoin managed to close above the most important area 20k. Multiple indicators are showing signs of reversal. For example,
1. RSI: The RSI has been this low only during the covid crash in March 2020 and capitulation in Dec 2018. Apart from that, no one thought about 17k tbh, even I didn’t expect a low below 20k and a break below 200 Weekly SMA. most people didn't, exactly the reason why it happened.
2. MACD:- is due for a bullish crossover.
3. NVT (Network Value to Transaction):- One of the best Bottom indicators which work in Higher time frames like weekly and monthly is also pointing towards the same. (Please observe the chart)
All these indications and fractals (observe the chart)are reaching a point where we can expect BTC to hit at least 28k to 32k by the end of the first week of November to hit the 50 Weekly Moving Average.
WARNING (FINAL SHAKEOUT):- See, logically everyone will turn bullish in a week or two and that is when you’ll see a double-digit negative rally in BTC all the way down to the 20.6k level. This will be the final shakeout before we shoot all the way to 28k. If this event occurs, since it’s all speculation based on charts, Price Action, and Logic, I believe that will be the best opportunity to buy BTC around the 20k level.
CONFIRMATION:- We had 6 consecutive weekly closes below the 200 WMA, so for this breakout to be legit we need a couple of candles holding the same level. If the current weekly candle which closes in 5 Days and 14 hours, holds the level, The uptrend will be confirmed.
All of the above points have been observed from the charts added with my personal opinion. This is not financial advice and will never be. Please do your own research before you take any trade.
Let me know what you think! Your views are very important and I learn from them.
I appreciate everyone reading this work, Please HIT the like button it helps!
Thank you and God bless you
#PEACE
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BTC (Hourly):- Perfect retest after the breakout detected in the hourly chart.
yes if you have logical analysis you are the winner even if you fail in one or more trades. i believe crypto has many advantages and deferences from other markets. no matter where you enter it, you are the longterm winner. logarithmic growth is underestimate in tradingview ideas and the key of btc.