Can Bitcoin Hit ATH Before Halving, This Chart Change Everything

1 ก.พ. 2020

Here we are looking at Bitcoin (BTCUSD) long-term on the monthly timeframe, 30 days per candle...

Can Bitcoin Hit ATH Before Halving, This Chart Change Everything...
Let's get started!

Here is a close-up of the chart, BTCUSD (M):

We can see that Bitcoin managed to move back above EMA10 on the monthly timeframe, switching its potential from bearish to bullish... Bitcoin monthly is now bullish for us.
This is a good signal but trading volume is still low, which means that we can easily see the last movement reverse.

Now, prices can bounce here and easily hit $11,500 or even $13,750... If there is good trading volume and the market heats up, Bitcoin can even hit its ATH before it starts to drop.

But if instead BTCUSD prints a monthly lower high and prices start to retrace, with the low volume we are seeing, the next target can be found around EMA50 or $5610...

Whatever happens, we remain bullish as long as prices are trading above EMA10.

Here you have a different perspective, short and mid-term...

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Namaste.

1 ก.พ. 2020

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