As per my view we are getting ready for a rally in BTC.
Good News for Bitcoin Bulls
Bitcoin related stocks have been slowly grinding higher over the past few weeks.
This action has shifted the charts of many of these stocks from bearish to bullish.
And, that’s good news for bitcoin bulls. Because, if the stocks do indeed discount the future price of bitcoin, then it looks like the King of Crypto could soon start to rally.
RIOT and MSTR, shares of TSLA have enjoyed a nice rally over the past six weeks. And, the moving averages on the chart have shifted into a bullish configuration.
This sort of bullish action in bitcoin stocks suggests that the price of bitcoin is more likely to be higher than lower over the next several weeks.
It’s not a guarantee, of course. But, the bearish action in the stocks two months ago warned us of the potential for a steep decline in bitcoin… and that’s what we got.
Now the bitcoin stocks are suggesting the King of Crypto is setting up for a rally.
Best regards and good trading #mx