Golden Cross for Bitcoin! (+21%)
On April 24th we had a death cross for Bitcoin and it was something I mentioned in my updates. Back then we were bears starting from 64K hunting for the lowest BTC price and a point for a re-entry that was found in the 46-49K area. Currently we are fully back in bull mode and there's something big about to happen for BTC...
As mentioned earlier in my last BTC update; we are in a channel thats leads us all the way to 67K! Check my last update linked below where I was looking for a bounce at the top of the green support channel; and we found just that! Now, we are back into the bull channel and we have the magical golden cross looming on the 4hr; the 1 and 2 hr already crossed! It it just a matter of time before we have a golden cross on the 4hr and it will happen in the next 12 hours so just 3 candles away on this chart!
I had a little look on what gains we can expect after a golden cross on BTC and I found that we always have huge pumps to the upside after the cross; even during bear markets! So this means that BTC could go parabolic from here BUT (!) for now; this is not the case yet... So I revisited previous crosses and found the weakest golden cross was 21% from golden cross to the nex death cross; meaning I did not include the peak in between. This would mean that if you buy on the golden cross and sell on the next death cross we could expect the price to be around 20% higher than now. So I took this most bearish target of +21% and it aligns with the 67K I projected as the end of my bull channel from my last analysis. However, I think there's a decent chance we can hit 70K this month but let's take things step by step. First lets make this golden cross happen and see where we end up...
Note: don't expect BTC to pump straight away after the cross; it can take a few days before the real impulse starts; however in my opinion; we are in the midst of the impulse to a new ATH already!
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
As mentioned earlier in my last BTC update; we are in a channel thats leads us all the way to 67K! Check my last update linked below where I was looking for a bounce at the top of the green support channel; and we found just that! Now, we are back into the bull channel and we have the magical golden cross looming on the 4hr; the 1 and 2 hr already crossed! It it just a matter of time before we have a golden cross on the 4hr and it will happen in the next 12 hours so just 3 candles away on this chart!
I had a little look on what gains we can expect after a golden cross on BTC and I found that we always have huge pumps to the upside after the cross; even during bear markets! So this means that BTC could go parabolic from here BUT (!) for now; this is not the case yet... So I revisited previous crosses and found the weakest golden cross was 21% from golden cross to the nex death cross; meaning I did not include the peak in between. This would mean that if you buy on the golden cross and sell on the next death cross we could expect the price to be around 20% higher than now. So I took this most bearish target of +21% and it aligns with the 67K I projected as the end of my bull channel from my last analysis. However, I think there's a decent chance we can hit 70K this month but let's take things step by step. First lets make this golden cross happen and see where we end up...
Note: don't expect BTC to pump straight away after the cross; it can take a few days before the real impulse starts; however in my opinion; we are in the midst of the impulse to a new ATH already!
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
Commento:
You can also refer to my BTC chart of 2 weeks ago; the damn thing is on point!
Commento:
BTC UPDATE: watch this; they are moving ETH up! They stall BTC, once the ETH move is done; we will see BTC make its move up into 58-59K area.
Commento:
BTC UPDATE: exactly as projected! Golden cross is coming in 2 hours! <3
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