FieryTrading

🔥 Bitcoin Preparing For Next Pump: $40,000 A Matter Of Time

Long
FieryTrading Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
Bitcoin has been trading inside a bullish channel ever since the huge pump at the end of October.

An asset that slowly grinds up, making higher-lows in the process, after a big pump is classically getting ready for the next pump. I think that the same goes for BTC.

I'm anticipating a bullish move in the next 1-2 weeks that will confidently bring us above 37,000. After the initial pump, a retest of the top channel is to be expected as a confirmation of the break out.

$40,000 is very likely at this point. Stocks just had their best week of the year, so BTC will likely benefit from overall market strength.

For now, things look great. Might have to start thinking about a correction once we hit 40k, but that's for later.

Do you think BTC is going to reach 40k this year? Share your thoughts 🙏
Comment:
Top of the channel hit. This can cause a (temporary) rejection. All hopes on a break out!

Comment:
Break out 🚀

Don't worry if this rally gets sold of back to 27k. It's healthy if the price retests the top resistance of the channel. A move back to 36k would be slighly worrysome.

For now, things look great!
Comment:
Correction wen deeper than I anticipated. ETH is holding up very well. Still, a BTC below 36k is bad news.

Comment:
Eyes open for V-shape bounce. Whipsaw longs & shorts at the same time while keeping the trend intact.

Comment:
Recovery shaping up. A lot of alts are already back at yesterday's values. ETH continues to go up. Seeing bullishness in alts, BTC will likely move back towards 38k in the very near future.

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