Lovely... This is exactly what I was looking for... A bullish Bitcoin! 😁
We use EMA10 as our main indicator to gauge bearish/bullish potential...
When prices move below this indicator, which is marked here with a green line, we switch our potential to bearish.
When prices go above it, we say that the bulls are getting the upper hand.
The retrace for Bitcoin started but we are patient and we wait... After 4 red/bearish candles, today we see prices moving back above EMA10.
Our targets remain the same as before. First, we aim at $46,000, and depending on how this level is handled we might go beyond.
Conditions for change If the bullish momentum is lost and prices reverse, BTCUSD would go lower than EMA21 and this time around hit EMA50 at ~$27000.
The daily candle is yet to close but the bullish action we are seeing now is reminiscent of what we've been seeing before... Very strong growth, short-lived corrections/retraces... This is how Bitcoin goes!
This is exciting, I know that institutional investing is happening in the corrections. This almost feels like a bear trap, and the FOMO is the bait. The correction lower is required to go to 48-70k and I feel 23K is our bottom on this pull back. I cant lose, at this point. Thank you for sharing.
My feeling was that this would be a short-lived correction but had to wait and see... So far is looking like a real recovery, I expect that the bull-run continues.