Bitcoin and crypto market in general are doing good currently but we're too far from end of downtrend and start of an uptrend.
Yeah, this could be the case but we have to go in stages, step by step and so far it's going good.
Yeah, this could be the case but we have to go in stages, step by step and so far it's going good.
Crypto Signals
After one month, we're in a buy zone I was talking about when no one thought about it. I'm now analyzing signs and looking for buy signs. So far, it doesn't look that bad.
One month ago I called this as a buy zone and look at this 💰
We got what we needed so far for the bullish scenario.
We forecasted a fakeout that would catch the majority on the wrong side of the market.
It happened, we get an instant bonce above $32 000 which was required but we're far away from a bullish market structure.
We got consolidation above $32000 that's still holding which is also a good sign but today or tomorrow we need to get continuation towards resistance and we need to break it.
So, today or no later than tomorrow we need to get that move up otherwise we could easily drop back down.
We forecasted a fakeout that would catch the majority on the wrong side of the market.
It happened, we get an instant bonce above $32 000 which was required but we're far away from a bullish market structure.
We got consolidation above $32000 that's still holding which is also a good sign but today or tomorrow we need to get continuation towards resistance and we need to break it.
So, today or no later than tomorrow we need to get that move up otherwise we could easily drop back down.
ETH/USD looking good as well but if you zoom out, you can see we're far away from a bullish market structure.
We need to get a clear break of the trendline that makes this triangle.
Only then we can start calling the end of this consolidation that was part of the major correction.
Even in that scenario, it will require time to build momentum.
But we got a bounce from the support that was very explosive, we're now above EMA 50 on H4.
To sum up, it's looking good but far away from a safe bullish zone.
We need to get a clear break of the trendline that makes this triangle.
Only then we can start calling the end of this consolidation that was part of the major correction.
Even in that scenario, it will require time to build momentum.
But we got a bounce from the support that was very explosive, we're now above EMA 50 on H4.
To sum up, it's looking good but far away from a safe bullish zone.
JPMorgan just became the first big bank to give retail wealth clients access to cryptocurrency funds. Yes, that JPM, James Dimon's bank, the “i will fire every employee who touches Crypto” bank.
Crypto Signals
We got what we needed so far for the bullish scenario. We forecasted a fakeout that would catch the majority on the wrong side of the market. It happened, we get an instant bonce above $32 000 which was required but we're far away from a bullish market…
We got the move towards $34 000 in the timeframe I forecasted.
As we got the breakout from this falling wedge, Bitcoin and whole crypto market is now in a way safer position.
It would be great for Bitcoin to stay above $34 000 tomorrow on a weekly close because that would make the entire situation even better.
As we got the breakout from this falling wedge, Bitcoin and whole crypto market is now in a way safer position.
It would be great for Bitcoin to stay above $34 000 tomorrow on a weekly close because that would make the entire situation even better.