Papa Bear is proving to be 'worth its weight' at present and it's almost ready for a name change. :)
BTC has been printing higher lows since hitting our long awaited target, and it fits a bullish scenario - as long as it continues to do so. It's next move is likely to be spectacular.
Bitcoin had a very strong close in July at $11350, hitting a new high and the highest price since August 2019... 1 year ago.
This is a huge development and opens the door for additional bullish action.
We've been aiming at the highs $13k/$14k on multiple timeframes if the $10400/$10500 barrier was taken out...
This is true in the monthly timeframe as well.
$BTC Elliott wave Weekly monthly
$BTC Weekly Monthly chart Forming bullish pennant
HL 5K around or above the below invalid level for HL 3300
and triangle 4th wave consolidation in HTF W M with low volume consolidation abcde or abc flat corrective wave
possible abc flat correction in HTF monthly
weekly 200 ma also 5K level and 0.786 fibs 5.4K...
We've been looking at Bitcoin but keeping our focus 100% on the Altcoins...
Here are the questions that continue to come up:
1) What will happen to the Altcoins if Bitcoin crashes?
2) Will there be a new Altcoins bull run?
3) If yes, to question #2, when will it happen?
4) How are you doing Alan Masters?
Ok... Let's get to it.
First, I've given...
Here we have an updated version of the weekly (W) chart for Bitcoin (BTCUSD) since the $10400/$10500 barrier has been taken out.
One important note before we get started.
This week is brand new and we are looking at the weekly chart.
The price for Bitcoin can change and reverse by end of week so we need candle closure for confirmation...
The trading volume is...
Bitcoin managed to break the $10,400/$10,500 barrier easy... Where are prices headed next?
Ok. As soon as Bitcoin (BTCUSD) moved above EMA10/50, we quickly adapted to the market and saw $10,400 as the final target...
This level rejected Bitcoin's growth in the past... See it below:
July 21 | Bitcoin Goes Bullish... Where To Next? $9800 or $10,400?...