Hi all, I am back with another chart. Bitcoin is at a very crucial state right now in order to catch the extremely bullish train failing so can result in the dip towards 4ks.
As in the main chart you can see daily turned bullish which can simply result in 9k so easily within this month when caught the momentum however little worry is with the weekly chart : You can see in the above chart that we just broke the resistance so another weekly green could yield the best bullish move but failing here can yield in some weekly resistance which could be bad for bulls.
Should you trade this week ? My answer is NO , you can just wait all this week and catch the best move next week.
There are total 3 scenarios from now :
1) Extremely Bullish action from here : Bitcoin can jump to 8k without retrace and catch next next bullish weeks 2) Bullish with a retrace : bitcoin could retrace here till 6900-6500 again this week to catch bullish candle next week 3) Bearish : retrace this week from here to catch another bearish candle
Although I expect second scenario and I favor first 2 scenarios but any of 3 can happen so my suggestion is wait with patience until next Wednesday to catch the best train rather than FOMO or PANIC trade this week
NOTE: if you find me useful follow me and hit like on my chart
Best, Budha
Trade closed: target reached
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Had sideways week as expected and I have come up with this new idea for a shorter time just to celebrate Easter :