Bearish & Bullish Scenarios | Bitcoin Weekly Timeframe & $20K
Let's forget the short-term noise timeframe for a few minutes and focus on the bigger picture...
How is Bitcoin looking weekly?
We are halfway through the week, there is still plenty of time for BTCUSD to either close RED or GREEN.
This week, just closing green is bullish milestone reached.
Bullish scenario one: straight up
Bullish scenario two: higher low then up
Bearish scenario: break support, move lower...
Bitcoin Weekly Chart Analysis
The current setup favors the bulls.
We already went through a negative 9 count that ended up in a hammer. This hammer is a reversal signal.
This week we have prices trading above EMA10 on a new positive TD count.
Closing above EMA10 can signal more green action to come.
We stay bullish as long as Bitcoin continues trading above the "Rising trendline" and the 21-Feb. candle wick low.
Remember 20K?
Longer-term, if the relief rally those play, we can see something like this:
Thanks a lot for the support.
Namaste.
How is Bitcoin looking weekly?
We are halfway through the week, there is still plenty of time for BTCUSD to either close RED or GREEN.
This week, just closing green is bullish milestone reached.
Bullish scenario one: straight up
Bullish scenario two: higher low then up
Bearish scenario: break support, move lower...
Bitcoin Weekly Chart Analysis
The current setup favors the bulls.
We already went through a negative 9 count that ended up in a hammer. This hammer is a reversal signal.
This week we have prices trading above EMA10 on a new positive TD count.
Closing above EMA10 can signal more green action to come.
We stay bullish as long as Bitcoin continues trading above the "Rising trendline" and the 21-Feb. candle wick low.
Remember 20K?
Longer-term, if the relief rally those play, we can see something like this:
Thanks a lot for the support.
Namaste.
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🔝 Cryptocurrency Technical Analysis
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lamatrades.com (Since 2017)
🏆 Results: t.me/alansantana1111/5935
🥇XRP +1950 🥇ADA +2216% 🥇AVA +536% 🥇AAVE +417%
t.me/alansantanatrades/971
🔝 Cryptocurrency Technical Analysis
followalan.com
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