BTC bull trend will continue till 10K

Tom Demark count gave a green 2 on the daily chart. This is a clear buy signal. On weekly chart we are at green 9. Which means this is the last week of uptrend.
I expect the bull trend will continue for up to 7 more days till we reach 10K. At 10K we will have a mediocre correction. 10K is the psychological level and many people will take profit at that time.

After 10K price might fall to 8151 first support area. If 8151 does not hold it might fall to Fibonacci 0.5 : 7713. I do not expect a sharper correction because of the CME news.

Here is my trading advice:

Long at: 9300
Take profit at: 10000
Stop loss: 8450

When we reach 10K, I will post my new analysis.

Trade active:
BTC has reached 10K before my expectation and price did not drop. We are still in the bull run. We are currently at green 4 on daily chart. Which means uptrend will continue for up to 5 more days. And we will have a new ATH soon.

It is very hard to say what will be the new ATH because of the fomo and CME news. But I observe 12K as the new psychological level.

I think big whales will pump the price till the end of week and there will be a major dump at Sunday morning.

Here is my updated advice:

Scenario 1: If you have taken profit. Wait for a possible re-entry point. Do not open a new position yet.

Scenario 2: If you have not taken profit yet. You can keep your position open till 12K and take profit.

Do not short Bitcoin at this point because that would be VERY risky.


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