🅱️ Bitcoin Bullish 🔛 Weekly Timeframe | Aims At $45000 Next!

I would like to take a step back and look at Bitcoin again, the bigger picture, focused on the basics.

Together, we've been looking at the short-term price movements since the bigger picture is already settled.

As we go deep into the daily action, we can forget what we already know.

✔️ Bitcoin is already growing, it has been growing since the year started, and everything points to additional growth.

✔️ Bitcoin is set to continue growing and this is supported by the chart that I shared yesterday and everything we will see together today on this chart.

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Thanks a lot for your support.

Here Bitcoin can be seen trading above all of the moving averages we track on the weekly timeframe. EMA10, EMA21, EMA50, EMA100/200/300 and MA200.

Trading above these indicators is a classic, time proven signal indicating that the bulls have the upper hand and the doors are open for long-term growth. By long-term growth we mean higher highs and higher lows.

The MACD is clear above zero and also coming out of an All-Time Low in July 2022, the lowest ever:

This is a very strong signal to say the least. The MACD hitting bottom and already trading on the bullish side.

The RSI is the same, it hit the lowest ever period, in June 2022 and is now ultra-strong above 60.

Plenty of room left for growth.
When these indicators hit bottom then they need to peak by hitting new highs... Waves... Up and down, up and down.

Next is the price action.

Bitcoin weekly tested EMA200 as support on the 12-June session, hitting its lowest price since March.

As this level is tested and holds as support, immediately the next week Bitcoin produces a massive green candle to break and close above MA200, EMA100, EMA50 and EMA10.

The last three weeks we see pure sideways, no drop, the strongest consolidation possible that can take place.

This sideways consolidation is accompanied by the Altcoins growing 3 digits each within days... Some are growing 30%, 50%, 60% on the first day of their bullish breakout, others have grown by 100%, 300%, 500%, 600% and even more in a matter of weeks and sometimes days.

These are all bullish confirmation.

In a bear market, when Bitcoin... No wait, in a bear market Bitcoin drops, instead it is now going up.

In a bear market everything drops but now everything is going up.

It should be clear by the fact, by what is happening by what we are seeing...

We no longer need any confirmation, we just need to follow the market and enjoy the bullish phase because it will end at some point.

The waves will continue, it will continue to go up but it will then move back down in a correction and then back up.

All the charts technicals are bullish, don't you agree?
What's your take on this analysis, on this chart?

Leave a comment now!
$45,000 Next!

Thank you for reading.

Namaste.

Trade chiuso: obiettivo raggiunto:

July 13, 2023: "$45,000 Next!"