BITCOIN: Bull Market or Bear Market? Next stop: 8,000 USD, then?

Bitcoin Analytics

by Coin AIO 1068 views 276

trendanalysis chartpattern indicator bitcoin btcusd btc uptrend symmetricaltriangle bearmarket bullish
Hey guys :D

I've been away for 5 days - I have been super busy lately. Our company is growing, and we are in the process of hiring more people, getting new and bigger office with streaming studios and a new TV-studio. As I said last time, I can only promise to do my best to make charts every day for you guys - but when I am running a business full time also, it's not always easy to make many charts and updates every day - I know most of you guys understand that - and thank you for that.

I nailed every single BTCUSD" href="">BTCUSD">Bitcoin             chart the last weeks, and gave you a signal on RLC             . I expected something huge from iExec's V2 Release after partnerships with Ubisoft, Intel             and RSK             . It didn't go up 150 % but it went up 24 % before it crashed. I told you 2(!!!) times to secure profit or move up your stop loss - To the few out there who were crying in the comment sections afterwards: Sorry I'm not your baby sitter, and you cannot expect me to click mouse buttons for you.. :)

Oh, BTCUSD" href="">BTCUSD">Bitcoin             - I have missed you. Let's now take a look at the 4h BTC/USD chart. First of all, I want you to pay attention to the low volatility we have been witnessing since May. The price is simply not moving much compared to the good old days - and especially the last 10 days have been bad. Also notice how little volume we have had. Only 2 days out of 19 have been above MA20 volume .

As you can see we are caught in a big triangle - we are making lower highs, but are also making higher lows. At this very moment we are inside an ascending wedge , which normally predicts we soon will see a retracement. This might very well happen, and we will then fall to 7,500 USD where we have a lot of support, and most likely will go up from there to 8,000-8,100 USD where we have Point Of Control and huge resistance.

BUT we have seen similar patterns fail again and again, and we might also see a Jack in The Box             bounce up to 8k without any retracement.

Overall the chart is more bullish short term, also take a look at the bullish MACD-cross, which means the bulls slowly are gaining more momentum. When that is said, it is not super convincing.

Therefore expect the following for now:

1. We will soon go to 8,000 USD
2. Mid-term I'm also still bullish , and still believe its most likely that we will go into a bull market - The reason for that is most of all due to some Fundamental stuff. I will tell you more about that later on. I must admit though, that I thought we already now here in June would have been in a bull market, but low volume , low volatility and lack of greed has prolonged everything.

Thank you so much for listening to me - Hope you are happy to see me back. And please leave a LIKE - I really appreciate it :)

D4 Loves You <3