The title might be a bit misleading but, the truth is that Bitcoin stays bullish short-term and this is bullish on all terms...
Good afternoon my fellow Cryptocurrency trader, how are you feeling today?
Any day, any week, any moment; every month, place or year, the market provides everything we need to know. This information is made available to us through the chart.
Bullish Bitcoin
The present signal is the fact that Bitcoin remains very high, challenging resistance, after a strong recovery and advance. This is happening with the altcoins also.
If you look at the last two peaks, as soon as resistance was hit there was an immediate crash. The next day was full red; very strong bearish action and momentum and this led to a new low. The situation is not the same today.
22-May peak. 23-May, strong bearish action.
9-June peak. 11-June, strong bearish action.
26-June lower high (not a peak). Today, neutral action. This neutral action is what I am taking as a bullish signal. Many other factors of course support this conclusion yet, this is still an early signal.
Fib support
A closer view of the daily timeframe:
4H. The grey line represents Fib. retracement. Dark blue—Fib. extension:
Conclusion
Each time there is a price peak a retrace follows, if there is no retrace then you are not witnessing a peak but rather a stop, a pause; resistance being met.
It seems that the current lower high is not the end but rather just a pause before additional growth. Market conditions can change.
It can happen that several days Bitcoin goes sideways with the bulls failing to garner enough strength. In this scenario, there would be a move lower before additional growth.
The present scenario shows a bullish chart even if prices drop, remember, the market is in no hurry.
Easy money
In September we will have lower interest rates and this is a bullish development for Bitcoin. Advanced money minds see easy money as inflationary for the currency, while Bitcoin is inflation-proof. So the dollar goes down and Bitcoin goes up.
I didn't quite develop this point, next time I'll do a better job.
Summary
The market is good even if it shakes. The market is good and isn't shaking, the recovery is already in place.
Bitcoin's price is very strong and there are many layers of support. The altcoins are in a similar situation, growing from the bottom up.
The Fed will reduce interest rates in September and then once more before the year ends, this is bullish for everything so, everything will be going up, at least everything that we are interested in, support and trade.
Thanks a lot for your continued support.
Never give up!
You are divine! You are blessed.
If you are reading this now, you will be blessed for your great timing. Hard work and dedication always pays.
Keep moving forward, keep pushing forward, never give up.
When life hits you hard, do take a break if you need it, only to comeback with new energy, a new mind and an infinite drive to achieve your goals.
You are the reason why Bitcoin exist... You are the lifeblood of the market.
Without you, nothing is possible. It is because of you that we all continue to grow.
Thanks again for taking the time to read.
I appreciate your support.
Namaste.
Good afternoon my fellow Cryptocurrency trader, how are you feeling today?
Any day, any week, any moment; every month, place or year, the market provides everything we need to know. This information is made available to us through the chart.
Bullish Bitcoin
The present signal is the fact that Bitcoin remains very high, challenging resistance, after a strong recovery and advance. This is happening with the altcoins also.
If you look at the last two peaks, as soon as resistance was hit there was an immediate crash. The next day was full red; very strong bearish action and momentum and this led to a new low. The situation is not the same today.
22-May peak. 23-May, strong bearish action.
9-June peak. 11-June, strong bearish action.
26-June lower high (not a peak). Today, neutral action. This neutral action is what I am taking as a bullish signal. Many other factors of course support this conclusion yet, this is still an early signal.
Fib support
A closer view of the daily timeframe:
4H. The grey line represents Fib. retracement. Dark blue—Fib. extension:
Conclusion
Each time there is a price peak a retrace follows, if there is no retrace then you are not witnessing a peak but rather a stop, a pause; resistance being met.
It seems that the current lower high is not the end but rather just a pause before additional growth. Market conditions can change.
It can happen that several days Bitcoin goes sideways with the bulls failing to garner enough strength. In this scenario, there would be a move lower before additional growth.
The present scenario shows a bullish chart even if prices drop, remember, the market is in no hurry.
Easy money
In September we will have lower interest rates and this is a bullish development for Bitcoin. Advanced money minds see easy money as inflationary for the currency, while Bitcoin is inflation-proof. So the dollar goes down and Bitcoin goes up.
I didn't quite develop this point, next time I'll do a better job.
Summary
The market is good even if it shakes. The market is good and isn't shaking, the recovery is already in place.
Bitcoin's price is very strong and there are many layers of support. The altcoins are in a similar situation, growing from the bottom up.
The Fed will reduce interest rates in September and then once more before the year ends, this is bullish for everything so, everything will be going up, at least everything that we are interested in, support and trade.
Thanks a lot for your continued support.
Never give up!
You are divine! You are blessed.
If you are reading this now, you will be blessed for your great timing. Hard work and dedication always pays.
Keep moving forward, keep pushing forward, never give up.
When life hits you hard, do take a break if you need it, only to comeback with new energy, a new mind and an infinite drive to achieve your goals.
You are the reason why Bitcoin exist... You are the lifeblood of the market.
Without you, nothing is possible. It is because of you that we all continue to grow.
Thanks again for taking the time to read.
I appreciate your support.
Namaste.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🚨 FREE PREMIUM Trades + Top Results
t.me/anandatrades/1183
🚨 FREE Quality Content + New Results
(Frequent Discounts & Offers)
t.me/masteranandatrades/6172
🚨 Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
t.me/anandatrades/1183
🚨 FREE Quality Content + New Results
(Frequent Discounts & Offers)
t.me/masteranandatrades/6172
🚨 Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.