Makaveli & The BTC Bulls, My Target Remains $60k to 68k
Wahala be like bicycle but these Bitcoin Bulls are definitely not sleeping on the bicycle, So if you are a holder still holding, be rest assure the bulls are not done yet.
I must say It feels good to be back, The break was necessary as I got caught with the weather but I'm strong now and back on my feet like a 🦍 That I am. I did get some good rest, but the fact is that I miss you all the beautiful people that I have in this great community.
The past few weeks hasn't been all rosy for the bulls, Couple with the fact that over 65% of traders lost money trading the sideways market, Only few smart traders are patient enough wait or to sit through, as most traders will find themselves exiting just when the sideways is about breaking out, Oh! what a painful exit that was, only to discover that the trend will resume.
But here comes the most important question, Is the Pullback over yet or are we seeing more pullback from the current 54k?
Let's Look at 4hrs chart.....
First of all, I will like to comment the bulls for a job well done by holding price up above the Channel Midline this long and still counting, but the previous timethis played out, we see this same type of pattern playing out on the Channel Mindline around the 38k to 42k range and how it played out.
Now knowing the fact that we can never have the same traders who played part in the last time drag of the channel midline, taking part in this now drag currently taking place, at the back of our mind we know that chances of getting the same but a slightly different result will all depend on the actions taken or not taken by the current traders who are currently trading the current channel midline drag between buyers and sellers.
For the price to remain on the bulls side on 4hrs, the bulls will need more buy power(money) to keep things going above my yellow line(the channel midline), this will propel them to 58k but I doubt if we will see a break instantly or we could see a strong reaction as price gets closer to $60k range.
Further look into the Higher Timeframe (Weekly chart)
Trend remains generally bullish but we have an inside bar which is currently causing the pause.
While This seem to be looking so juicy on 4hrs, it doesn't look to me like the storm is over or calm just yet, Take a look at this...
Are we missing a strong support that could propel Bull up to $68k?
This is a good question to consider because so far we can still feel the bulls struggling to hold above the midline which could be a bad sign but still be a good sign....HOW?????
well, when I say a bad sign if means we are not done the battle and its very possible it might take BTC bulls another week to make it out.
The good news is that, If they fail to hold up the midline at 48k to 54k, they will get a good push down to reinforce bulls to be able to overcome the current ATH. (good support 42k to 46200, worst case scenario 38k to 40k (this will be as a result of stop loss hunt before the major bull run begins)
MY TARGET REMAINS $60K TO 68K but remember that good things do take time. Happy trading.
I must say It feels good to be back, The break was necessary as I got caught with the weather but I'm strong now and back on my feet like a 🦍 That I am. I did get some good rest, but the fact is that I miss you all the beautiful people that I have in this great community.
The past few weeks hasn't been all rosy for the bulls, Couple with the fact that over 65% of traders lost money trading the sideways market, Only few smart traders are patient enough wait or to sit through, as most traders will find themselves exiting just when the sideways is about breaking out, Oh! what a painful exit that was, only to discover that the trend will resume.
But here comes the most important question, Is the Pullback over yet or are we seeing more pullback from the current 54k?
Let's Look at 4hrs chart.....
First of all, I will like to comment the bulls for a job well done by holding price up above the Channel Midline this long and still counting, but the previous timethis played out, we see this same type of pattern playing out on the Channel Mindline around the 38k to 42k range and how it played out.
For the price to remain on the bulls side on 4hrs, the bulls will need more buy power(money) to keep things going above my yellow line(the channel midline), this will propel them to 58k but I doubt if we will see a break instantly or we could see a strong reaction as price gets closer to $60k range.
Further look into the Higher Timeframe (Weekly chart)
Trend remains generally bullish but we have an inside bar which is currently causing the pause.
While This seem to be looking so juicy on 4hrs, it doesn't look to me like the storm is over or calm just yet, Take a look at this...
This is a good question to consider because so far we can still feel the bulls struggling to hold above the midline which could be a bad sign but still be a good sign....HOW?????
well, when I say a bad sign if means we are not done the battle and its very possible it might take BTC bulls another week to make it out.
The good news is that, If they fail to hold up the midline at 48k to 54k, they will get a good push down to reinforce bulls to be able to overcome the current ATH. (good support 42k to 46200, worst case scenario 38k to 40k (this will be as a result of stop loss hunt before the major bull run begins)
MY TARGET REMAINS $60K TO 68K but remember that good things do take time. Happy trading.
