🅱️ Bitcoin Short-Term Update, A Closer Look At Market Cycles

We've been looking at Bitcoin through the 1H chart, short-term, but it has been more of a general view rather than short-term price action, today I would like to look a bit closer and see what will actually happen next short-term based on the chart signals.

This is the 4H timeframe and BTCUSDT just closed 8-July above EMA10. It has been going sideways for a while so this signal isn't that relevant but combined with the indicators they can be.

We had two major shakeouts, the SEC 30-June rejected all the Bitcoin spot ETF fillings, this did nothing and all the request have been resubmitted, so the market has that going.

The next shakeout came in 6-July and this time by the FED, something like people are working and having a good life, better than what they expected and so they intend to raise interest rates in order to crash the market and economy.

While this is not the topic of this analysis, let me tell you that this is not a truth statement this is only done to create fear in peoples mind. People can be controlled when they are in fear, in doubt, it is hard to control a human been who is self sufficient, secure and confident.

Next is the MACD which is giving out an interesting signal on this timeframe.
Here the MACD can be seen moving below zero on the 5th of July, today it is showing a bullish cross with the histogram going green. This is interesting because with prices trading above $30K this signal supports a move higher.

We are not expecting strong moves though, while they can happen, but choppy market action as the Altcoins grow.

Volume is dropping which is neutral and a sign of continued consolidation.

The RSI is also looking good as it broke out of a descending channel:
Clearly trending higher.

While these signals are based on a short-term timeframe, not really strong, they still favor the bulls which is better than having bearish signals.

As you might be aware I read hundreds and hundreds of Altcoins charts every single week and these are also showing positive but not short-term, all-terms, everything is pointing green.

When doubt, bad news and FUD creeps up, make sure to sit back and breathe deeply, relax and remember that we are on a path to long-term growth.

The bear market happened last year, we've been through the worst.
Any doubt this year is something that needs to be ignored.

Think long-term.
Focus on the long-term.
You will be happy with the results.

If you do look at the short-term, remember that any surprise move will always fix itself in a matter of days.

At this point correction and retraces should last between 3 and 9 days... After the next peak, we will get a long-term correction/consolidation like we did in the past few months, this will precede the Bitcoin halving which will usher the next bull-market, when this is happening it will be clear because the news will be positive and quite different from today.

Instead of seeing/hearing/reading about fights, lawsuits, hacks and theft, you will be hearing about new companies, growth, progress, new partners, new systems and everybody saying that Bitcoin is here to stay.

There is no way around it, the market moves in cycles.

Namaste.