We broke out of this huge descending resistance and came back to the 21 EMA to retest on the weekly. We need to hold this support. If we dont we will fall back below 10k and the run is going to get delayed by months.
Now i expect things to really get going for alts. If you think defi pumps are over just wait and see whats to come. Bitcoin maxima-lists saying that the dominance is going to go back to 90% are idiotic. They use no logic only bag pumping is going on there.
If BTC suddenly doesnt dump on us LTC is looking very bullish. We created this 4 month bottoming pattern after the covid crash and pumped a leg higher and now the price is squeezing between the upper resistance line and the 21 weekly EMA. The longer we stay in this range 55- 65 dollars the higher the probability that we will break the resistant line and break t...
The final boss resistance of the weekly BTC chart is 12k. If you notice if we start closing above 12k on the weekly there really is nothing up to 20k. We ve spend only few months between 12 and 20k. This can get explosive very fast. Not many people are expecting 20k this year, but it is very possible. I think we have around 35-40 % chance to get to the highs this year.
The weekly candles are getting smaller and smaller so the chance of a retrace to the 21 EMA is becoming bigger. I wont be surprised if we pulled back to 10k the next month. The weekly is still bullish though.
When i look at this chart i can easily see us going to 20k this year. Not even a sweat. Yes we might stall at some of the levels for some time, but this is healthy for the uptrend. We are truly at the start of the bull market.
LTC is bumping against the 60 dollar resistance for several days now and its making higher lows. This indicates alot higher chance for a uptrend continuation. We can easily see 70 80 bucks the next couple of weeks unless BTC dumps massively.
Our support is the weekly 21 ema. The time that we will be trending is unknown. It could be years, months, weeks. All the bear bias is destroyed at this point. Especially with the corona panic bottoming candles. I expect BTC and ALTS to take pumping turns at this point.