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Potential continuation of bull trend 1 day chart

업데이트됨

BTC has formed a double hidden bull indicator which means that its a continuation of the current bull trend.

Hongkong BTC ETF is going to be opened shortly by April 15th

Japanese are pulling out from US and EU bonds which will make the dollar weaker

TD bank has started to advertise about Bitcoin ETFs

Gold is at its highest ever so there wont be many buyers at that level, they would rather wait for it to go lower.

FED Rates are staying put at least for a few months.

All these point to a continuation of the trend.

Lets see how this goes.

what are your thoughts?

코멘트

It is about to start as it is trying to cross the trend line above ..
Popcorn coming out

코멘트

Getting interesting now ... it closed a 5 min candle above the trend line

코멘트

shorts are going to suffer shortly as there is an exhaustion in selling..
71500 soon

코멘트

On Jan 11th BTC peaked to ~49k and then on Jan 23rd it fell to ~38k that was a ~19% drop, right after that everything went up and all alt coins gained 50% or more.

On March 14th BTC peaked to 73777 and then upto March 20th it went down to ~60k which is about ~18%

Based on that pattern I think all the longs have already been washed off also the fact that a few more dips to 64k and 66k happened again shortly after.

This makes me think that no more dips like that might occur again, the bottom has already set in.

It will soon go upwards from here.

Note Jan is when ETFS got released and in March Grayscale dumped 1b in a single day due to the offloading of genesis bankruptcy shares.

The air has cleared now for the continuation to start which is also indicated by the 2 hidden bull signals back to back on the daily chart.

Shorting here may not work anymore since all the longs have already left the stage.

Lets see how things go further..

코멘트

To be safe just buy spot on alt coins as there wont be any more discounts

코멘트

Today is Friday, the last day of GBTC selloffs. So a major sell pressure will be out of the door for 2 whole days.

Things could quickly ramp up during the weekend. I think I will buy some alts here.