BITCOIN Major bullish signals aligned.Powell's icing on the cake

Lots of euphoria yesterday after Jerome Powell's Press Conference where he gave the markets what they wanted to hear regarding future policy and how inflation is under control. The rates got increase by +0.25% but on a lower rate than the previous meeting. This may just be the icing on the cake for Bitcoin (BTCUSD) as technically we are close to three major indicators aligned for a huge triple buy signal.

We have moved up a time-frame to 3W to see an even longer term perspective that successfully filters out all the noise of short-term fluctuations. As you see, the RSI is already above its MA, the LMACD should complete the Bullish Cross on the next candle while STOCH is just below the 49.50 level. This is the last hurdle to overcome before BTC issues this triple buy signal as it is the level where STOCH got rejected on June 2015 and delayed the rally for another 2 months with one last low. However the LMACD Bullish Cross was formed after this low so if we get it on the next candle then most likely STOCH will be above the 2015 rejection point as well, or it will be invalidated.

Will this final alignment put the new Bull Cycle beyond doubt? Feel free to let us know in the comments section below!


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