Hi guys! Bitcoin followed my prediction from the previous post and returned back above the trendline. We had some positive news about Tesla accepting Bitcoins, VISA adding USDC to its payment system and PayPal launched crypto check out. Seems like adoption is happening right before our eyes.
What I expect from Bitcoin in the near future is to continue to grow with a possible retest of the ascending trendline (blue) however this is not necessary and we can fly from here. On the 4h time frame we can see that yesterday we broke out the symmetrical triangle upwards and formed a bullish flag which was also broken upwards today, both breakouts included good volume although it seems that buyers' power is decreasing as the volumes do. At this point I expect a small correction movement in the area of $58000-56000 which I marked with green boxes on the chart below. According to the market situation I will probably enter a long position in these areas if the correction is healthy and we don't see a dump.
:DISCLAIMER:
This is my trading idea. I am neither a financial advisor nor I urge you to trade my idea.
Always DoYourOwnResearch prior investing your money anywhere!
Always respect risk management!
Always respect money management!
Always make profits!
By using my referral links you will have a life-time reduced trading fees on Binance, OKEX, Crypto.com and additional bonuses for new users!
