We continue to see all positive signs for long-term traders. A major event occurred this week that suggests we are still on an upward trend. However, it's important to keep in mind that 2023 will likely be a year of sideways movement, followed by upswings, and then 60% pullbacks. This cycle is expected to conclude in the second quarter of 2024. Please take the time to Boost this idea.
Let's take a look at the weekly timeframe and note that the rejection this time was slight. In contrast, the first rejection back in mid-August of 2022 was strong. I see indications that Bitcoin will soon push over the 50 and 200 MA. Once this happens, if we remain above the 200ma for three weeks, it will confirm a cemented recovery.
So, what is the major event that happened this week?
Looking at the lines-only chart, we can see that the last MA (the 100-day moving average) has finally crossed over the 200MA. Below, you can see that the 10MA, 20MA, 50MA, and 100MA are now lined up above the 200MA.
What might the months after this event look like? Take a look below.
VERY IMPORTANT: Hitting the "Boost" button is like a tip, please don't forget to do so after reading, this is your way of thanking me for my time and so I thank you for yours.
Let's take a look at the weekly timeframe and note that the rejection this time was slight. In contrast, the first rejection back in mid-August of 2022 was strong. I see indications that Bitcoin will soon push over the 50 and 200 MA. Once this happens, if we remain above the 200ma for three weeks, it will confirm a cemented recovery.
So, what is the major event that happened this week?
Looking at the lines-only chart, we can see that the last MA (the 100-day moving average) has finally crossed over the 200MA. Below, you can see that the 10MA, 20MA, 50MA, and 100MA are now lined up above the 200MA.
What might the months after this event look like? Take a look below.
VERY IMPORTANT: Hitting the "Boost" button is like a tip, please don't forget to do so after reading, this is your way of thanking me for my time and so I thank you for yours.
