$90k by end of May 2021 may be coming for #bitcoin $BTCUSD #btc
The Super Algorithm Indicator shows a green bar with a bullish sign still intact on a 2day and 1day timeframe. It means bullish.
There is no downward arrow on either 1day or 2day timeframe. It means I see not much chance of a significant drawdown. Some drawdown is always possible on intraday. However, on the macro scale, I see possibilities of price going up.
Also, I notice the red squares indicating a squeeze forming. It is telling a massive price change is imminent. For example, the squeeze was last seen on 3rd-7th Feb 2021 and 5th-10th Oct 2020 before the large price upswing.
The price is constantly hitting the supply zone with the background colour red. It means the suppliers are getting weaker and weaker. It seems to be just a matter of time before the demand overtakes the supply.
The below green demand zone is substantially solid. It has already been formed, tested, and retested several times, proving its solidity.
I have two BTFD areas marked with the background colour yellow and green. Considering the price already hitting and weakening the red supply zone, I find it less likely to go to either the green or yellow zone. The green one and the yellow BTFD one is lying right around the Ichi lines. We know that ichi lines have all the necessary qualities for a price bounce. If it goes there, it possibly will be in the intraday wick. In other words, price is tending towards up only. In short, I will be bidding on the Ichi lines in a 1day or 2day timeframe chart if at all price gets there. The chance of that is low.
Conclusion:
My target is $90kis by the end of May 2021.
There is no downward arrow on either 1day or 2day timeframe. It means I see not much chance of a significant drawdown. Some drawdown is always possible on intraday. However, on the macro scale, I see possibilities of price going up.
Also, I notice the red squares indicating a squeeze forming. It is telling a massive price change is imminent. For example, the squeeze was last seen on 3rd-7th Feb 2021 and 5th-10th Oct 2020 before the large price upswing.
The price is constantly hitting the supply zone with the background colour red. It means the suppliers are getting weaker and weaker. It seems to be just a matter of time before the demand overtakes the supply.
The below green demand zone is substantially solid. It has already been formed, tested, and retested several times, proving its solidity.
I have two BTFD areas marked with the background colour yellow and green. Considering the price already hitting and weakening the red supply zone, I find it less likely to go to either the green or yellow zone. The green one and the yellow BTFD one is lying right around the Ichi lines. We know that ichi lines have all the necessary qualities for a price bounce. If it goes there, it possibly will be in the intraday wick. In other words, price is tending towards up only. In short, I will be bidding on the Ichi lines in a 1day or 2day timeframe chart if at all price gets there. The chance of that is low.
Conclusion:
My target is $90kis by the end of May 2021.
For guides on how to use the Aladdin indicator or how to buy it, please check joy-bangla.gitbook.io/aladdin/