Bitcoin Mid-Term, 4H Timeframe, Bullish ($119,165 Next Target)

l’altro ieri

On the 4H timeframe we have a consolidation pattern with a bullish bias. Bitcoin is aiming higher after a close above EMA8 & 13 with higher lows.

The drop 13-June found support perfectly at 0.786 Fib. retracement on a wick. The session closed above 0.618. The action turned bullish immediately and we are seeing slow but steady growth.

The recent drop was a market reaction due to a geopolitical situation. As soon as the event is priced in, the market seeks balance and goes back to its previous trend.

Bitcoin's bullish bias is not only supported by strong prices, $105,600 is very strong, but also by the altcoins and the cyclical nature of the market.

While Bitcoin already produced several new all-time highs this year the altcoins are yet to do the same. A bull market happens every four years or the year after the halving. For Bitcoin this is already true but this is a marketwide event and the altcoins are yet to go there and this is a bullish factor and soon this will be obvious on the chart.

We are 5-6 days away only from very strong bullish action. Notice that this isn't a long time, it is less than a week. The altcoins will reveal this bullish bias much sooner than Bitcoin but Bitcoin will also grow and hit a new all-time high soon. This new all-time high will be the catalyst for everything to boom.

» Ignore the short-term it is all noise—crypto is going up.

The next target is $107,558, followed by $109,508 on this timeframe. The latter being a mild resistance.

The main target here is $119,165 and this is a good resistance zone. It can be rounded up to $120,000. If this level gets hit it will only confirm additional growth. The target that follows is $130,000 and the minimum for this cycle is $160,000 but we are aiming higher.

Feel free to follow for more.

I will continue to detail Bitcoin on all the timeframes as well as many of the top, mid- and small altcoins.

Thank you for your support.
It is appreciated.

Namaste.

ieri

Trade attivo

A very clean bullish breakout. The first barrier at 107,558 has been cleared without stress. It was tested once and then broken in the candle that just closed.

Next target, $109,508 followed by a new all-time high. This is Bitcoin short-term and while it is still early, we are ready to move ahead.

The last barrier is important and, what about the FED? Bitcoin does not care. Crypto is going up regardless...

Namaste.

12 ore fa

Trade chiuso: obiettivo raggiunto

Just a small swing as you can see here and Bitcoin continues bullish, consolidating and growing from its base. Notice the higher lows...

I am guessing that many people got completely shaken out of their positions because of too much leverage but it seems this happens every other week. For those common sense and smart traders, nothing changes we continue aiming higher. When in doubt, zoom out and focus on the long-term. Bitcoin has been rising and continues to do good over the short-, mid- and long-term.

As long as Bitcoin trades above $100,000 the bias is super strong. Bitcoin is currently trading above $104,900, almost reaching $105,000, the bulls are in control. This is still within the neutral zone. $100,000 - $110,000 is the range. The longer Bitcoin remains within this zone, better for the bulls. It is the creation of a long-term support. Once Bitcoin moves forward to challenge new highs, this zone will work as the base on any long-term correction or sudden retrace. If the breakout happens to the upside of course and that's what we expect. A new all-time high is coming soon. Patience is key.

Namaste.

6 ore fa

Nota

I think people are starting to agree with me...
I think people are in the know.

I think we are ready to move higher and I think the retail trader also thinks so.

What do you think?

3 ore fa

Nota

Bitcoin's daily RENKO chart (bullish)


Weekly (bullish as well)

3 ore fa

Nota

3LB Daily (bullish)