Look left / down on the yellow circle!

For persistently rising prices, we need 3 conditions on a weekly basis:

1. Tenkan - Kijun = bullish cross

2. Both Tenkan & Kijun "have to" run through the SMA 50 to generate a bullish intersection

3. Only then should / can all 3: Tenkan, Kijun & SMA 50 climb in the same way as in the yellow circle, through LEAD 1 through the red cloud.

As long as that does not happen the way down remains open all the more since there is only one important support between 1171.3 & 968.9.
Before mid-October (as I mentioned in the last BTC chart) I would not rely on too much bullish development.
The possibility that the 3 conditions can be met without reaching another low, I do not exclude hereby definitely.
I stay open!

Comment:

Here are some thoughts:
what if the next cycle can be raised logarithmically?
This would free up an incredibly high potential that can not be undone so quickly.

Only a weekly closing price below the red line @ 1061 would destroy that view.
At that point (1061), the Monthly Cloud is still supportive, just in case a close happens below, then you could forget about BTC.
We'll know more in a few months.
www.tradingview.com/chart/0f8FYiGU/

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Comment:

yellow - top - right (correction) is now correctly placed.

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Now a few weak days may follow but in April there should be a bullish monthly. At least both should be reached: the SMA 200 & the EMA 00 Daily, from then on falling again.

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Soon we shall see the TP1 at 5659.5, where also MA 50 can serve as orientation, and afterwards either directly towards TP2 at 6448 or after a pullback.