Bitcoin rally signal to 43,000~45,000 on weekly 0.3 Genesis Fib
Bitcoin just shifted the weekly chart into positive as seen on the Momentum Oscillator indicator. It is the first time since the several months of bear market we have experienced that Bitcoin finally confirms consolidation at the 0.5 Fib
Yesterday, BTC had an much easier win for the 41,3 resistance than expected. Momentum is on the side of the bulls as it will take a either a major world event or an almost impossible effort from the bears to shift this back into sub 40,000 price mark.
Without a doubt, if Bitcoin breaks through the upcoming resistance at 0.3 genesis Fib, respectively ~43,600 price mark, BTC will be shooting towards 45,000 without much resistance. At 45,000 it is highly possible that retail market will gain confidence into bulls, and with that confidence, Bitcoin will push above the ~50,000 price mark.
However, bulls should pay attention for the strong resistance at the 0.2 genesis Fib.
Definitely a long signal here, shorts should be closed or extremely closely monitored.
Yesterday, BTC had an much easier win for the 41,3 resistance than expected. Momentum is on the side of the bulls as it will take a either a major world event or an almost impossible effort from the bears to shift this back into sub 40,000 price mark.
Without a doubt, if Bitcoin breaks through the upcoming resistance at 0.3 genesis Fib, respectively ~43,600 price mark, BTC will be shooting towards 45,000 without much resistance. At 45,000 it is highly possible that retail market will gain confidence into bulls, and with that confidence, Bitcoin will push above the ~50,000 price mark.
However, bulls should pay attention for the strong resistance at the 0.2 genesis Fib.
Definitely a long signal here, shorts should be closed or extremely closely monitored.