As you can see from the daily chart, Bitcoin has reached a turning point. Solid long-term support from below and at the end of a wedge formation. Any day now Bitcoin will have to make a decision and I expect it to be the start of the next bull run for Bitcoin and Crypto as a whole.
Bitcoin is classed as a 'Currency' but is traded as a 'Commodity'. What you need to remember is there is only a limited supply of Bitcoin and with rarity comes increased value.
My expectation for Bitcoin is to next head for $54500 before another correction.
Bitcoin is classed as a 'Currency' but is traded as a 'Commodity'. What you need to remember is there is only a limited supply of Bitcoin and with rarity comes increased value.
My expectation for Bitcoin is to next head for $54500 before another correction.
The very positive side though is we have closed ABOVE the wedge.
I am still bullish.