Bitcoin remains Bullish on Monthly Timeframe, let me share why?
- Bitcoin's price is trading above 21MA on the Monthly chart - which is bullish.
- We can spot a falling wedge formation inside a giant bull pennant structure on a Monthly chart.
- I am expecting one more leg down below 6000$ if it drops below 5000$ that would be lovely. Bitcoin needs to hold above 5000$ to remain in this bullish pennant structure.
I am anticipating a major bull trend will be started after bitcoin will touch the support of this bull pennant.
- Bitcoin's price is trading above 21MA on the Monthly chart - which is bullish.
- We can spot a falling wedge formation inside a giant bull pennant structure on a Monthly chart.
- I am expecting one more leg down below 6000$ if it drops below 5000$ that would be lovely. Bitcoin needs to hold above 5000$ to remain in this bullish pennant structure.
I am anticipating a major bull trend will be started after bitcoin will touch the support of this bull pennant.