There isn't much change since the latest update about bitcoin which I always anticipated the bullish for mid and long term. For short term, it looks like more tricky but the momentum can't lie. Even with the latest event of US election, the price of bitcoin is still having a good momentum to moves in higher level from current region.
This is the 3days time frame of the chart and it helps you to see the market with more clears and compact bias. Without considering the short term movement, I still see this ascending channel is still working out as the price is still respecting the support and resistance trend line that has formed since April 2020. As long as the price is steadily trending inside this channel, I don't see any option of the potential retest again the previous swing low (bottom line this year).
RSI itself is still trending at the bullish zone and is having a sign of breaks out from the 80 level which will indicate the potential of super bullish movement. This statement however is still having an alignment with my yesterday's EW count as well which at current condition it has the possibility of forming the 3rd wave up in grand cycle. Another thing is that there is a potential hidden bullish divergence occurs which of course so bullish. So, believe me that $14000 will be reached soon and it's too soon to call the reversal at this point.
This is the 3days time frame of the chart and it helps you to see the market with more clears and compact bias. Without considering the short term movement, I still see this ascending channel is still working out as the price is still respecting the support and resistance trend line that has formed since April 2020. As long as the price is steadily trending inside this channel, I don't see any option of the potential retest again the previous swing low (bottom line this year).
RSI itself is still trending at the bullish zone and is having a sign of breaks out from the 80 level which will indicate the potential of super bullish movement. This statement however is still having an alignment with my yesterday's EW count as well which at current condition it has the possibility of forming the 3rd wave up in grand cycle. Another thing is that there is a potential hidden bullish divergence occurs which of course so bullish. So, believe me that $14000 will be reached soon and it's too soon to call the reversal at this point.
