BitcoinUpdated VERY important moment for BTC on daily
DISCLAIMER: below are mostly bearish thoughts, but don't worry - BTC will touch 60-62k for sure even if it start retracement after.
I see similarity in BTC charts with my EMAs now and on January 2018. I will show you the charts to compare. Pay attention to blue VWMA - it always act as very strong SR. Either reject price or cause a strong impulse on breakout. At all timeframes. But the higher the more important as you know.
Day timeframe:
4H timeframe:
Last top at 4H actually looked a lot the same as what we see now at day timeframe.
Hopefully it will be a breakout. I always foreseen ATH for December 2021 =)
Cycles are cycles. You can't break the tradition, especially with so many bullish fundamental changes coming in.
Note
Ok, so at 4H BTC moved above MAVW which is now at 52815 and also above 233 EMA at 55600. Usually price tend to come back to MAVW unless its a trend (which is not the case now). I think we have very similar situation to September. If lucky it will lead to another several weeks of consolidation and then hopefully continuation of global uptrend.4h now:
September:
At daily price moved above MAVW, but losing volume and momentum. At this timeframe the decision moment isn't over yet. Pivot at ~55000-54700. Drop below will turn the picture bearish again.
Day now:
Day September:
P.S. In case you ask, why EMA233 and not 200 - because it doesn't matter. For me Fibonacci based values are more important than those used by majority. In the end they show =/- same values and price action cross and bounce from both same way. Don't put too much importance to things that don't have it.
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