Bitcoin - MORE INCREASE? Have to see THIS FIRST

25 sept. 2024

Bitcoin has been giving us some positive vibes as buying pressure shows up on lower timeframes. We've even managed to keep the price above 60k - an excellent sign of strength.

However, before considering more upside there really is just ONE thing we need to see - higher lows.


For as long as we are unable to breakout ABOVE the diagonal resistance zone, we'll just be stair stepping down into a slowburn, slow decline until point 4 is established and we're ready to complete the final impulse wave up (4-5).



Making higher lows would result in prices back towards the upper 60's, with a successful retest of the neckline support.

EXTRA FOR EXPERTS - Here's how to use the Bitcoin Dominance chart together with the Altcoin market chart to gauge the next direction of BTC:

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BTCUSDT

11 oct. 2024

Note

The two scenarios I see for BTC: