BitcoinLong
BTC TA Hash ribbons signal and BUMP & Run Pattern
Bearish scenario:
BTC is struggling to break above 47500 k and has broken the trend line below the Bull run. in My opinion it is very important for BTC to stay above 42k USD to remain bullish, if this break below 42k and candle close below this support it will go back all the way down to the previous support at 30K.
in my opinion it is probably trying to shake the weak hands before continuation.
Bullish scenario:
since this has not happened yet and it is trying to hold its position through this week end, the trend is still bullish. Check the Bump and run pattern with target at 60k+ also Hash ribbons that is validating my theory. the last BUY signal on the ribbons was at 3 of dec 2020 when the Bull run started with all time high at 65k this Buy signal is flashing now again and with caution at above mentioned support line at 42k I will still hold my long positions.
BTC is struggling to break above 47500 k and has broken the trend line below the Bull run. in My opinion it is very important for BTC to stay above 42k USD to remain bullish, if this break below 42k and candle close below this support it will go back all the way down to the previous support at 30K.
in my opinion it is probably trying to shake the weak hands before continuation.
Bullish scenario:
since this has not happened yet and it is trying to hold its position through this week end, the trend is still bullish. Check the Bump and run pattern with target at 60k+ also Hash ribbons that is validating my theory. the last BUY signal on the ribbons was at 3 of dec 2020 when the Bull run started with all time high at 65k this Buy signal is flashing now again and with caution at above mentioned support line at 42k I will still hold my long positions.
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