Bitcoin continue going up?
Updated
https://www.tradingview.com/x/hD4fFKLY/
Bitcoin daily and 4-hour chart shows a moment of pause after going up as had been estimated as the highest probability of happening. Now, the analysis indicates a probability of seeking 40 thousand dollars in 2 scenarios, the first is to stay in a range between $30,200 and $35,000 dollars, for a period between one or two weeks to continue rising to complete a second bullish impulse. The second scenario is to stay above the 20-period average in 4 hours (yellow color), to see another strong impulse in search of $40,000 dollars and retreat and then enter another pause and look for a third bullish impulse. In both scenarios I expect 2 more upward impulses with the normal and necessary setbacks. Finally, a confirmation of a Bitcoin ETF approval could cause the price to reach even higher prices
Bitcoin daily and 4-hour chart shows a moment of pause after going up as had been estimated as the highest probability of happening. Now, the analysis indicates a probability of seeking 40 thousand dollars in 2 scenarios, the first is to stay in a range between $30,200 and $35,000 dollars, for a period between one or two weeks to continue rising to complete a second bullish impulse. The second scenario is to stay above the 20-period average in 4 hours (yellow color), to see another strong impulse in search of $40,000 dollars and retreat and then enter another pause and look for a third bullish impulse. In both scenarios I expect 2 more upward impulses with the normal and necessary setbacks. Finally, a confirmation of a Bitcoin ETF approval could cause the price to reach even higher prices
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Bitcoin continues to wait for the decision on the approval of the ETF, if this happens we will probably have a strong bullish momentum. Now, graphically, he should hold $36,000 and is likely going for $40,000. I think that Bitcoin is following an upward trend but not in a straight line, it will have setbacks looking for the 20 period MA as its support, if it were to lose on the daily chart and close below the 20 MA today located at $36,260, it could go down to 34,600 to bounce higher. Doing a trading operation today in Bitcoin is not recommended due to the uncertainty of the ETF, the only thing that is certain is that if it goes down it is to buy more in the future
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