🅱️ The Higher, The Better: Bitcoin Will Hit $250K Next!

Good morning my dear follower, please allow me to entertain you for a few minutes with this chart.

Here we have Bitcoin on the daily timeframe; we are using mainly two signals for this analysis... Join me, let's dive in.

Bitcoin Analysis

➖ We have the visible range volume profile indicator showing liquidity around 50K, 44K and 25/26K.

➖ We can see BTCUSDT trading daily below EMA50; a major bearish development. This EMA50 has already been confirmed as resistance on the daily timeframe. This means that advanced traders and experienced market analyst already have full confirmation of what is going to happen next. Beginners and/or inexperienced traders can still have doubt which is normal and understandable because Bitcoin's price is really strong and high.

Yes! Bitcoin's price is really strong and high but the growth momentum that pushed prices to current levels has been extinguished; remember, my job is to alert of major changes of trend before the event.

I am not a Bitcoin bull or a Bitcoin bear.
➖ When Bitcoin is low and ready to reverse, I would call LONG based on what the chart says.
➖ When Bitcoin is high up and strong, near resistance after years of growth, I would call SHORT because the chart is saying so.

It's been a long time... We've been reading, trading and sharing for so long.

Bitcoin going down is not bad, we know that this is only a short-term move that is needed to balance almost two years of sustained growth. We welcome a correction because we want stability on the way up to a new All-Time High on the next bullish run.

If Bitcoin does not correct now, what will happen when it does?
What happened to the Elliot Wave concept?

Nature grows in cycles, in waves... It does 5 steps forward and takes 3 steps back, this helps to build stability and support.

➖ With the forward move we focus on expansion, innovation —obviously, growth.
➖ With the backward step we revisit what we did in the past, what went right, what went wrong. The not working is removed, the solid is reinforced.

Regardless of the short-term, long-term we are going up.

Bitcoin is going up!
(After the correction of course)

Namaste.