Will BTC Break 45K!!?

9 feb 2022

BTC is looking great here we are currently sitting underneath the 0.6 FIB level at 44447$ and we are looking for a potential break to the upside. The good news is that we broke out of the bullish triangle and aswell as the descending channel. A break above 45K is going to be massive achievement in the short term for us and will add some big bullish momentum, aswell as take out a massive resistance level! Now something that is very bullish is the bollinger bands, we had yet another daily close ontop of the top band which can trigger some big momentum and shoot us up, Continuing to close ontop of the top band will increase our chances of seeing that big bull momentum so this is definitely something to watch! Now lets look at the squeeze momentum indicator, we are seeing another increase in our daily green bars and we are currently in the squeeze release portion of this indicator the most explosive part (shown by the black crosses turning white) the thing we are looking for here is the continued increase in green bars each day, if we begin to see these decrease we could be looking at a little downside to come! Not massive downside i should point out, a possible few days, but we will have to see, we must watch aswell for the green bars entering into the red zone below the midline, if we see a bearish squeeze this could lead to more of a significant downside. Now the ADX is looking very positive here, we are coming down off a long downside but we are starting to see a very gradual but healthy reversal it seems like, what we want to see confirm is this downside to keep rounding off into the start of an upside! Will continue to update as we move forward! Not financial advice just my opinion!