BTC - BACK TO WHERE WE LEFT BEFORE COVID?
Hello everyone, it seems BTC after the halving as consolidating for weeks instead of showing the volatility and nervousness predicted by many. This is a bullish sign, as consolidation happened after a bullish movement. Also, we are being above all relevant MA on the weekly TF, which is very positive.
Looking at the chart, I think we can agree on considering what happened from Feb to Apr as an excess due to covid and we can not consider it for the Big Picture.
We are actually in the same position as before covid, which is within the retracement area of the bullish leg of 2019. As we approach the upper part of it, and if we break the multi years descending trendline, BTC becomes extremely bullish. Targets for next weeks/months are on the chart
Looking at the chart, I think we can agree on considering what happened from Feb to Apr as an excess due to covid and we can not consider it for the Big Picture.
We are actually in the same position as before covid, which is within the retracement area of the bullish leg of 2019. As we approach the upper part of it, and if we break the multi years descending trendline, BTC becomes extremely bullish. Targets for next weeks/months are on the chart
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