BTCUSD 1D - Possible next bull-cycle to begin within 4 weeks
Hey guys! Here's my go on the next bull-cycle for Bitcoin.
Historical
According to historical data, the 2017 bull-run also had multiple cycles (4, I believe). With each bull-cycle skyrocketing bitcoin prices.
Current trend
What we've seen so far 2020 and 2021 have had two strong bull-cycles already, and we are in a consolidation fase right now. On this third bull-cycle prices could grow exponentially to 70K, 80K or even somewhere to nearly 100K.
Indicators
MACD can still get lower, but as of right now we are entering an area with buying opportunity. But we need to wait for a better comfirmation, where the orange line will break through the blue one. Because wil indicate a trend reversal.
Stochastics show it went far below 20, even almost 0. But it's not giving a clear buying signal yet, where the following line (orange) starts climbing right beside the leading line (blue), and values go above 50.
Trade safe, stay safe!
____________________________________________________________________________________
This is not financial advice. I'm purely a beginner in technical analysis .
Let me know what you think about my analysis and hit like or a follow if you like my ideas.
Feel free to comment or share your own analysis, I would gladly share thoughts with you.
Any of your feedback is my motivation to keep going and to learn more about Technical Analysis!
Historical
According to historical data, the 2017 bull-run also had multiple cycles (4, I believe). With each bull-cycle skyrocketing bitcoin prices.
Current trend
What we've seen so far 2020 and 2021 have had two strong bull-cycles already, and we are in a consolidation fase right now. On this third bull-cycle prices could grow exponentially to 70K, 80K or even somewhere to nearly 100K.
Indicators
MACD can still get lower, but as of right now we are entering an area with buying opportunity. But we need to wait for a better comfirmation, where the orange line will break through the blue one. Because wil indicate a trend reversal.
Stochastics show it went far below 20, even almost 0. But it's not giving a clear buying signal yet, where the following line (orange) starts climbing right beside the leading line (blue), and values go above 50.
Trade safe, stay safe!
____________________________________________________________________________________
This is not financial advice. I'm purely a beginner in technical analysis .
Let me know what you think about my analysis and hit like or a follow if you like my ideas.
Feel free to comment or share your own analysis, I would gladly share thoughts with you.
Any of your feedback is my motivation to keep going and to learn more about Technical Analysis!
Comment:
4H Timeframe, with a better view of the support and resistance levels to watch.
