It all depends if we can hold the 21 week ema until mid October. If we consolidate until then above the EMA i will feel a lot more confident that we are going to make a new ATH in to first quarter next year. But if we fail to hold the 21 week ema, we are going down to 30k again. For now im feeling neutral.
Every time that BTC touched the 50 week MA after a run up, it ranged between the 50 MA and the 21 EMA and it goes down in a bear market. If it doesn't this time it will be the exception. The market will have to hold the 21 week ema for 3 months for it to confirm that we are continuing to new ATH. Personally im waiting for that 3 months above the 21 week ema. Now...
There are 3 more weeks till the month closes, but currently it looks really good. If we close on new highs ETH can easily reach 5 - 10 k till the end of the year.
We can form this huge descending triangle on the weekly and break down to the 200 week MA next summer. It makes sense because people would have been exhausted from all the ranging action for a year and then sell on the break down near the bottom. We can still pump to 50k and be in a bear market, but i wouldn't bet on it.
Prepare for 30k ones again. If we test 30k, 1 or 2 times more its going to break.
If we can hang around in the range between 40 and 50k for the next 3 months i will turn bullish again.
Its going to be painful as well because we will range for another year and then break down. I have a hard time believing that we are going to new all time highs after we went below all the important MAs for so long.
Down at 21 bucks. I will buy some if it goes down there.
It can break up and go on to make new highs everything is possible, but in the history of BTC every time that we have closed below the 21 week ema after a bull run and stayed there for a few weeks we have always had extended bear markets. We are already 11 closing weeks below the 21 week ema. We can be slowly ranging down to 10k for the next year, year and a half....
If we close above the 21 week EMA and actually hold it for like 2 months we significantly up our chances that the bull market will go on, until then its just noise and who believes what.
A great buying opportunity awaits us between 8 and 13k.
20- 21k target based off of the latest btc moves.
Based on the fib levels on the log scale.
We just broke the macro support line. My accumulation zone is between the green lines. Have fun hodling.
They are running on hopes at this point and coming up with all kindz of silly bullish calls, when the charts are showing you best case scenario a slow bleeding channel on the weekly. This cycle looks a lot different then all the others, but it is normal because wall street got in. The only way i will turn macro bullish from this point on is if the weekly chart...
Its gona take a while, cuz stubborn bulls are buying on every new low. Best to forget about crypto for the next year, year and a half.
If we close below the neckline this week say sayonara to the 30 k range and say hello to the elevator down to 20. And eventually i think we are headed to the 200 week ema. If you dont think BTC can go down 80% you are just ignoring the historical charts.
Be careful for them bull traps. There is a long time before this gets invalidated if it does. At least 2-3 months.