In fact the bears seems to find a lot of difficulty having Bitcoin to retrace - this is EXTREMELY bullish in my opinion. I do not believe my previous target of 7,800 will hold as resistance and I believe Bitcoin may go up to 9,000 before the retracement happens.
There are three more factors which indicate to me that we may have seen the bottom already and entering a bull market right now:
1. Wyckoff accumulation Phase C is finishing and we are about to enter Phase D
2. We are seeing 6 daily green bullsh candles in a row - the last time we saw this happen was back in June 2017
3. Bitcoin dominance is at 45.2% right now - this is a precursor to a Bitcoin bullrun where altcoins dump into Bitcoin in anticipation for the King to go on a rally before distributing to altcoins again
There are three more factors which indicate to me that we may have seen the bottom already and entering a bull market right now:
1. Wyckoff accumulation Phase C is finishing and we are about to enter Phase D
2. We are seeing 6 daily green bullsh candles in a row - the last time we saw this happen was back in June 2017
3. Bitcoin dominance is at 45.2% right now - this is a precursor to a Bitcoin bullrun where altcoins dump into Bitcoin in anticipation for the King to go on a rally before distributing to altcoins again
Note
Follow me here on Twitter if interested in keeping updated with my graphstwitter.com/LouisCheung10?lang=en
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.