[BTC] I am Still Bullish, here is WHY.

We are about 2 weeks until the halving comes along. I will say people are starting to feel bullish recently. Let's not predict the future by the news event, as a good trader, we need to combine both technical analysis and fundamental together to make odds in our favor

If you have not read my previous BTC analysis, you have been missing out on big profits. I am still holding on my BTC until I see the bearish signs.

Now, let's take a look at BTC weekly charts. We broke above 20MA with a high green bullish candle. Until today, price is already above 50MA, which is another bullish sign to me. If we close above 50MA this week, we will have a high possibility to reach the previous high( 10500 level) very soon.

Here are the 2 scenarios:
1. Price close above 50MA, we might have another mini bull run during the halving event.

2. Price close below 50MA, we may have a consolidation period or downtrend until we reach the next level of support.


Historically, every time we cross through the 50 weekly MA, we either have a small rally or long term bull run. That's why I think scenario 1 will play out.

Safe trading.

評論:

waiting for the price action for daily candles, see if BTC will consolidating and move up or down, if breaks up, we can have another upside run.