BTC: Has the Chinese Bull Market Started? Target: 47K
Updated
BTC appears to have reached a significant trend target, which could potentially propel it to new highs of 47K in the long term. The crucial question revolves around whether the Chinese bull market has begun, as trends in China and Hong Kong appear intriguing for BTC.
In the upcoming period, we will closely monitor BTC for any signs of an uptrend. If BTC experiences a new start to a bull market, it has the potential to surge by 30K, paving the way toward the 47K price level.
BTC had some stable days, but there seems depending on TA that a change can come into the volumes, also we see some increases in important wallets.
This does give not any guarantee, but its shows the high possibility.
In the upcoming period, we will closely monitor BTC for any signs of an uptrend. If BTC experiences a new start to a bull market, it has the potential to surge by 30K, paving the way toward the 47K price level.
BTC had some stable days, but there seems depending on TA that a change can come into the volumes, also we see some increases in important wallets.
This does give not any guarantee, but its shows the high possibility.
Comment
If the bull market started as it shows, then BTC should at last break up the 28600 in the coming time for trend confirmation.Comment
Short-term B IDEAComment
Most of the time a breakout starts after the price breakdown in the time frame slowly, then + volume spike increase. Not every breakdown is a confirmed breakdown and the same for uptrends.Comment
Until now BTC seems still interesting for the breakout trend. BTC can take the coming time the + volume to high, and start building a new bull market view.Comment
The important volume zone what BTC should targetComment
Dow jones has also building trend that could effect BTC positivelyFor the long-term target, 47K - The space trend between 31K and 47K is an open volume zone.
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BTC is on follow for the breakout.Comment
The new weekly BTC chart will start over some hours. interesting to see if we can get a new confirmation from the new weekly chart. if no, then it's still interesting to follow how the trend will gain in the coming days with the expecting that the Chinese bull market will take over.Comment
The real breakouts comes from the dip buying.BTC trend until now depending on TA still interesting.
We will see if the whales are able to breakout BTC up 30K in the coming time.
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Whales known as smart buyers, taking the market over the panic sellers.BTC at main trend still interesting, and can breakout the coming time up 30k
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The most important on the BTC trend is the right cycle view.When BTC enters the real bull trend, it will not re-test the most important levels.
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Its BTC and it can take time before there is confirmation on the 28.5K frame.We know BTC also from the stability it can have, and same time the effect it can have when the bullmarket started.
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BTC price is now up 27KUntil now there is still no confirmation of the bull trend.
Also with this price increase, it's possible that BTC can get a recovery. This update is not a daily update but a long-term view of 47K
BTC has a cycle view and we expect that there is a good chance BTC can gain 47K long term. In the short term, BTC is still able to recover and trend on different price actions.
Soon new BTC update with a new chart.
This update is not trading advice, do always your study.
Comment
Before the SEC news, BTC had a high chance to enter the new bull trend view. and it The question is can BTC still enter a bull trend?
Yes it's still possible for BTC to enter the bull trend if BTC holds the 20K
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