It's that time of the year, where BTC makes a bull run. I predict an early exit this year though around late May/Early June instead of July. As you can see by my last chart the larger inverse H&S completed and the market rose as it should. There was even a smaller inverse H&S mid April to confirm the breakout would occur. I went long once the large inverse H&S was created.
The reason why I say a Bull run is happening now for at least 3-4 weeks is:
a) it's normal for this time of the year
b) everything on the charts says BUY
c) 20,50,200,1200 EMA all below current price, major crossover around 12th
d) we have broken out of the downtrend channel
e) Arab countries now allowed to buy crypto, billions could be invested
f) It is now above 78.6 retrace
I have put a wave on where I predict it will go, but it could do anything really, after all it is Bitcoin.
Good luck trading all!
The reason why I say a Bull run is happening now for at least 3-4 weeks is:
a) it's normal for this time of the year
b) everything on the charts says BUY
c) 20,50,200,1200 EMA all below current price, major crossover around 12th
d) we have broken out of the downtrend channel
e) Arab countries now allowed to buy crypto, billions could be invested
f) It is now above 78.6 retrace
I have put a wave on where I predict it will go, but it could do anything really, after all it is Bitcoin.
Good luck trading all!