AlanSantana

πŸ…±οΈ Bitcoin Daily | What Needs To Happen For $80,000

Short
AlanSantana Updated   
KUCOIN:BTCUSDT   Bitcoin / Tether
The daily Bitcoin MACD has gone full bullish:

βž– A local down-trendline has been broken (from its Dec. '23 high).
βž– Trending straight up.

Resistance is being faced next around 707 or 0.786 Fib. extension.

βž– The daily candles look pretty good, we are lacking only a bit of volume.
βž– We have five consecutive days green with a small distance being travelled.

πŸ‘‰ If Bitcoin can manage to conquer the upper resistance in the 47,500 - 49,500 price range, higher is possible... If this resistance can't be broken, expect a major crash.

Namaste.
Comment:
When the drop starts, the first stop will be in the 30-34,000 price range and then a bounce... It will be sudden/fast....

The bounce will be short lived and then the next drop will push Bitcoin towards 27,000. At this point, people will start panic selling clearing out all the buy orders all the way down to 22K, where the big players will be waiting with their hearts open to buy all the Bitcoins, and increase their holdings even more.

This has been in the works for years... The time has come.

Just look at all the headlines right now... "$500,000 Next..."

Really?

Prepare accordingly.

βž– We will catch the bottom and ride the next bullish wave.
βž– We will ride the wave down as well.

Thanks a lot for your continued support.

Namaste.
Comment:
Major resistance range remains intact. Incredibly enough, Bitcoin is still trading within a lower low after 6 consecutive days green. This is the seventh green session in a row.


This is a mixed signal yet the bears have the upper.
The bulls can gain the upper-hand as soon as the last high is challenged and breaks, that is ~49,000.

Any trading below this level increases the probability that the bullish wave is over and the correction gets closer. The longer it takes for the correction to start, the stronger it will be.

Namaste.
Trade closed: stop reached:
Bitcoin hit a new high today so the potential for higher prices is now open and valid.
The bearish potential has been eliminated by the current move.

With that said, we continue 100% bearish for the month of February 2024.

Namaste.

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