🅱️ Bitcoin Short-Term 100% BULLISH! (Updated)

28 giu 2023

The longer Bitcoin continues with its sideways consolidation, the stronger the bullish bias becomes.

The longer Bitcoin goes sideways, the better it is for the market as a whole.

Bitcoin broke back above $30,000 21-June, it printed a low of $29,600 the next day and it has been going sideways since. Bullish consolidation.

The longer Bitcoin stays strong, up, near resistance, the weaker the resistance/bears become.

Short short-term the main support level is this range, $29,500 - $29,800. As long as Bitcoin stays above this range, we cannot even think about the bearish scenario, because the chart is too strong, if it breaks below we continue 100% bullish all the way to $27,300 but we can appreciate that the chart became weaker and consolidation can take longer than before.

We continue to see pure sideways action and this is the best we can get, based on these details, we continue bullish 100%.

When in doubt, look around.

We were using XRP to gauge the market strength but it felt behind, now look at BCH (Bitcoin Cash) and you know we will continue higher even if short-term we get some "noise", small declines.

Focus on the long-term.

Bitcoin consolidated for 3 months since March through June and reached a cross road, down or up.

When prices broke up that's the confirmation, not that we will get 3 days of green followed by a crash to 15k but the confirmation that the next major move is up.

The move can last between 3 weeks and 2 months and then another correction/consolidation phase, we are seeing a continuation of the bullish wave that started at the beginning of 2023.

Namaste.