BitcoinLong
🅱️ 15,000 Bitcoin Target... When? Multiple Timeframes +Altcoins
Updated
The question on most peoples mind is really about the next target... When will it happen?
Looking at the weekly chart, we can appreciate the fact that Bitcoin is trading above some really strong support levels... Here is the chart:
✔️ Bitcoin is trading weekly above EMA21, EMA50 and MA200 with a strong RSI (55.5).
✔️ We can also appreciate consolidation happening since mid-March.
On a bullish phase, consolidation can take anywhere between 1.5 to 3 months before the next breakout.
This tells us that the next move can happen between now and June 11 or mid-June.
On the daily timeframe we have a variety of signals to look at... Join me:
✔️ The hammer 12-May is a positive signal that favors the bulls. Any trading above the low of this candle and we are witnessing consolidation before higher.
If Bitcoin moves below 20k the chart continues bullish but we take notice and consider this as weakness.
The volume is low after the 12-May hammer which indicates that consolidation is taking place.
If you go back to 10-March and 12-January 2023 we confirm that the trend is up. Any breakout should be a continuation of this move.
Now, back to our initial question, when will Bitcoin hit 15,000?
Based on the above charts and signals, we are likely to experience the next breakout between now and mid-June.
✔️ The next target is set around 35,000 but also much higher.
35,000 is the first, main initial target but there will be a stop in the low 30ks to retest resistance of course.
We are expecting prices to hit 38,000, 40,000 and even more...
The Altcoins are set to grow together with Bitcoin.
Thank you for reading.
Remember to boost, follow and comment.
Thanks a lot for your support.
Namaste.
Looking at the weekly chart, we can appreciate the fact that Bitcoin is trading above some really strong support levels... Here is the chart:
✔️ Bitcoin is trading weekly above EMA21, EMA50 and MA200 with a strong RSI (55.5).
✔️ We can also appreciate consolidation happening since mid-March.
On a bullish phase, consolidation can take anywhere between 1.5 to 3 months before the next breakout.
This tells us that the next move can happen between now and June 11 or mid-June.
On the daily timeframe we have a variety of signals to look at... Join me:
✔️ The hammer 12-May is a positive signal that favors the bulls. Any trading above the low of this candle and we are witnessing consolidation before higher.
- On a more general note, any trading above 25,000 is hyper-bullish.
- Trading above 22,222 is ultra-bullish, this is marked by MA200.
- Strongly bullish above 20,000.
If Bitcoin moves below 20k the chart continues bullish but we take notice and consider this as weakness.
The volume is low after the 12-May hammer which indicates that consolidation is taking place.
If you go back to 10-March and 12-January 2023 we confirm that the trend is up. Any breakout should be a continuation of this move.
Now, back to our initial question, when will Bitcoin hit 15,000?
Based on the above charts and signals, we are likely to experience the next breakout between now and mid-June.
✔️ The next target is set around 35,000 but also much higher.
35,000 is the first, main initial target but there will be a stop in the low 30ks to retest resistance of course.
We are expecting prices to hit 38,000, 40,000 and even more...
The Altcoins are set to grow together with Bitcoin.
Thank you for reading.
Remember to boost, follow and comment.
Thanks a lot for your support.
Namaste.
Note
We are seeing technically a short-term double bottom today for Bitcoin when we look back to 12-May.This is also a higher low.
This confirms either the continuation of the consolidation phase mentioned above or the resumption of the bullish wave.
Either way, bullish for Bitcoin and the Cryptocurrency market but more likely than not that Bitcoin will continue to consolidate while many Altcoins recover and move ahead.
Mainly the Altcoins vs Bitcoin (ALTSBTC) pairs grow, 2-5X.
When the correction comes, automatically to sell one of these pairs you buy Bitcoin.
So the ALTSBTC correction pushes Bitcoin UP, while Bitcoin is already set for additional growth in the weeks to come.
Patience is key.
Note
When Bitcoin moved down earlier this month... It left a strong/big GAP on the CME Futures exchange.We can take this as a bullish signal.
Note
It has come to my attention that some people are complaining because of a "lack of shorts".They say that I only share/post LONG trades and fail to short the market even when there is a correction.
Why would I short a correction when the market is going up?
Why go short when we haven't seen new lows since November 2022?
If you want to go short, by all means go ahead and do so but do not wait for me because it is not going to happen.
If you are so sure, you should just go ahead and short, what is the need for me to post a trade for someone who wants to confirm something that I do not agree with?
As long as the market is bullish I am bullish.
If a target is hit and a retrace takes place I wait until a support level is established and go long again.
If after a target is hit a correction develops, then I wait and again go long... I will never go short because the moment you decide to go short on a long market that's the moment everything goes up.
I will never go short... In fact, I will go short but in 2025 or early 2026 when the next bear market takes place.
Or maybe when we hit the peak of this bullish wave but not in between, it is too risky and what's the point? If you are trading to win, the market is going up, then the better bet is LONG.
Namaste.
Note
Bullish confirmationBitcoin is moving daily above EMA10, EMA21 and the most important EMA50 together with the RSI going above 50.
Closing daily above EMA50 = bullish confirmation.
Note
Bitcoin moved weekly below EMA10 and stood there for one week.
We say below EMA10 opens up bearish potential.
This week Bitcoin moves back above EMA10.
We say above EMA10 opens up bullish potential.
The most important detail we can appreciate on this weekly Bitcoin chart is the fact that we have a period of 70 days (10 weeks) since Bitcoin broke above $25,000.
Going back to the bear market last year, you would always get new lows after a few weeks, now that we are in a bull market (higher highs and higher lows) Bitcoin can consolidate sideways for weeks, 2.5 months in this case.
With such a long consolidation phase, the bulls a ready to move ahead.
31,000 was the last resistance and this should be taken out easily.
40,000 can be hit and even 50,000 within this same wave.
After this bullish phase is complete, we will have a long-term correction/consolidation phase that will end up in a higher low compared to November 2022.
After this higher low, we are ready for the bull-market until the 2025 new All-Time High. After the ATH a new bear market will form.
2024 = 2020 (bull-market hh+hh)
2025 = 2021 (ath-reversal)
2026 = 2022 (bear market low)
When it comes to price action.
Hyper-bullish above 28,000
Ultra-bullish above 25,000
etc.
Namaste.
Trade closed: target reached
May 2023:"We are expecting prices to hit 38,000, 40,000 and even more..."
"40,000 can be hit and even 50,000 within this same wave."
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