Bitcoin 100K Support Intact, The Bulls Win!

前天

Lately we've seen many cries about volume. Where is the volume? There is no volume! Etc. I tend to agree. My excuse in favor of a bullish Bitcoin was to say that low volume as prices moved higher worked as a continuation signal, things change.

We are now looking at BTCUSDT on the Daily timeframe and what I can notice is trading volume being relatively high. The days with high bull (green-buy) volume, are sometimes two to three times higher than the days with bearish (red) volume. This signal seals the deals. The bulls win.

This is a chart drawing that I used in the past. We have the low 7-April low and a higher low 5-June. Very strong bullish action for two months straight; very little retrace, weak bearish action for several weeks, the bulls win again.

The consolidation zone, the accumulation range, is defined here with blue and green, we know the price to be $100,000 and $110,000, Bitcoin trades at the exact middle, above $105,000. Giving the bulls another win.

Yesterday the action produced a higher low compared to 5-June. Even with very bad geopolitical conditions, a surprise war, Bitcoin remains strong. If not even war can break 100K as support, this simply means that Bitcoin isn't going any lower, Bitcoin is going up.

The most revealing part is the fact that Bitcoin didn't even reach 100K. Not in 5-June, not yesterday. 5-June the low was hit at 100,386. Yesterday, the low was 102,656.

There is lots of demand, supply is limited.
People are buying the dip. Whales are buying, institutions are buying; the world wants Bitcoin. Price action says Bitcoin is going up.

We can extract supporting signals from the Altcoins, Ethereum, XRP and Dogecoin are good examples, all the big projects are strong now when we consider the fact they are trading above MA200 daily and weekly, and this confirms a bullish bias with long-term growth.

$150,000 is not the top, Bitcoin is likely to go higher by the end of the next bullish wave. We can consider prices such as $180,000 and $200,000. This is because nobody is selling. Since people are not willing to sell, prices are sure to increase. Many altcoins are now extremely bullish, small and big.

All market conditions are fully aligned, it is only a matter of time.
Patience is key. Prices will rise.

Namaste.

前天

交易進行

Bitcoin Short-Term, 1H Timeframe, Bullish ($115,482 Next Target)


Bitcoin completed its retrace 13-June 01:00 AM with a higher low at $102,663. Price action and trading volume indicates that the bearish move is over. Bitcoin is trading above support in the form of 0.618 Fib. retracement.

Bitcoin is turning bullish moving above EMA34, EMA21, EMA13 and EMA8 all in this current active session.

Immediate support stands between $105,293 and $105,314.
Next support is $104,533 and main support $104,282 matching the 0.618 Fib. retracement level.

Next target easy hit is $106,625, followed by $107,559. The second being a mild resistance.

Bitcoin can easily continue higher short-term aiming next at $108,989 followed by the last high at $110,586. Depending on how this level is handle we can update the short-term view.

The 1H timeframe is bullish now based on price action, candlestick patterns, higher lows, moving averages and the oscillators.

Namaste.