BTC Strong Bullish Triangle
For more than half a year we have been monitoring the development of the Bitcoin correction in the form of a falling channel. Continuous downtrend movement has already filled most of Fibonacci's values. The last and most important level that can hold the price of BTC is 78.6% retracement, which most traders rely on. My point is that big players won't allow us to buy Bitcoin for such a great price and I consider the $ 6400 value as the bottom of this year's correction. If I look only at the Bitcoin chart, it almost does not suggest. Correlations of charts like Total Market Cap, Altcoin dominance, coins against USDT, High Caps charts like ETH, LTC, etc. suggest this. Each of these charts asks for upward movement, which can only cause an increase in the BTC price. The weekly chart shows that the price level of Bitcoin is held by the BK77 indicator, from which the price is always reflected upwards. Even over the past month, bullish candle formations have been created with increased purchasing volumes. If we fell out of the accumulation zone from $ 7800 to $ 6400, the BTC would point to $ 5500, where the important MA200 indicator is located, from which there was always a reflection upwards. The Internet will surely be full of predictions that will talk about a new day from 2018, and the $ 1800 value may be mentioned below. There is no need to be afraid and follow the "Buy the rumor, sell the news" rule.
Upon completion of the half-year correction, the BTC will attack $ 11,900, where there is an unfilled CME Futures GAP. Here will be a very important reaction, as BTC will demonstrate. If it breaks through without any problems and keeps above it, the crypto market will look much more bullish. In the event of a downward GAP discouragement, the effort to create a new local maximum will also be extended by a year and a half. The fundamentals that will apply to Halving BTC could also help up. From historical gifts we already know that Halving has always caused a rise in the price level of Bitcoin. As for the new All time High, I don't see it as pink as most traders. The logarithmic curves of the Bitcoin chart indicate the beginning of the recession, which certainly does not listen very nicely. I expect upward movement to the logarithmic curve, but at what price level?
Upon completion of the half-year correction, the BTC will attack $ 11,900, where there is an unfilled CME Futures GAP. Here will be a very important reaction, as BTC will demonstrate. If it breaks through without any problems and keeps above it, the crypto market will look much more bullish. In the event of a downward GAP discouragement, the effort to create a new local maximum will also be extended by a year and a half. The fundamentals that will apply to Halving BTC could also help up. From historical gifts we already know that Halving has always caused a rise in the price level of Bitcoin. As for the new All time High, I don't see it as pink as most traders. The logarithmic curves of the Bitcoin chart indicate the beginning of the recession, which certainly does not listen very nicely. I expect upward movement to the logarithmic curve, but at what price level?
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