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.

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.

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.

4 years later

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.

If we get weekly close above $34 300, we will get bullish engulfing on a weekly timeframe which is extremelly good sign for all bulls in the market.

In a little bit more than a day we'll know what's the forecast for next week or two.

DOT/USD is targeting at least $15 next week.

Current price $13.55

Target reached 🤩

Bitcoin did what our forecast said.

The whole market is now euphoric but we're testing EMA50 for the first time in this correction and breaking above it won't be as easy as most people think.

We expect at least a few days of ranging in this area if not a small pullback down to $34-35k.

ETH/USD back in the safe area after breaking the resistance zone.

$955 million worth of shorts liquidated over the past 24 hours during this Bitcoin breakout.

EMA50 is acting as a resistance so far

ETH/USD looking pretty good especially after a successful test of the broken resistance area.

Expecting test of the green area in the upcoming days.

If that happens, we'll get way more information on the strength of this trend and what we can expect next.

Expected scenario for Bitcoin.

We got the short squeeze and we're now in a small correction after that move.

After the correction is over, we expect to move up to at least test the previous peak of $43 but also very likely to see further move towards $47k.

The situation is looking better for bulls since we're getting the move up that was forecasted in the previous post.

Now on the daily timeframe, we have bullish engulfing so far which would be perfect for this long forecast.

H4 is also looking good since we get the bounce from the EMA 100 which is very important sign for us.

So far so good!

Target 1 reached 😎

EMA 100 was pretty nice support for Bitcoin on this run.

We need it to hold if the price is going to reach 2nd target.

So far it looks good