Bitcoin (BTC) analysis thread

Looking good for the 3rd test of 10k. Cme gaps closed easily this week. Could the 3rd test trigger the rise toward ath
 
BTC 17052020_1.jpg

BTC 17052020_2.jpg

Hi all. Like i`ve promised you last time, into the next couple of analysis i`ll show you the needed steps 1 by 1 from BTC to reach the next ATH. I`ve discussed the first two into my last two analysis and now it`s a time for the final third one.

Here`s the third step to the next ATH (chart 1).

Many of you will say that after every single halvening, the next ATH takes more time. That`s right but not at 100%. I`m finding a very strict and simple rule into the past 2 ATH. Yes the 20K ATH took more time from the halvening than the previous one but… and this is a big but, check the time between breaking the previous ATH price after the every halvening and the next ATH. In both cases it`s exactly 10 months.

And here comes the third step to the next ATH. We can say that 10 months after we break the $19666 price level we can expect the next all-time high. When will be that ATH? Like I said all depends from the nearly $20k break.

So let`s summarize all 3 steps.
  • 21 monthly EMA. April candle closed above it. The first condition is already fulfilled.
  • A monthly close above $10500 and a HH (higher high) into the weekly chart.
  • Break above the last ATH ($20k) and 10 months of time.
That`s all. Simple enough.

Actual situation (chart 2).
  • Support:
  • 1st support - $8500 - 50% Fibo and VPVR profile
  • 2nd support - $7800
  • Resistance:
  • 1st resistance - $9500-9800
  • 2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above.
  • Weekly pivot point is $8971.39. The price is far above it for now which is positive for the next week but let`s where this week will close.
  • 50 SMA situation is same like the pivot point. The price is far above it for now which is positive for the next week but let`s where this week will close.
  • 21 weekly EMA is far below the price for now. Not bad at all and it`s going to cross the 50 SMA which is another good sign.
  • With this week candle (if it close like now) we`re breaking the symmetrical triangle from the upside. Very positive sign.
That`s all for now.
See ya next time.
 
momo your analysis is amazing.
Super concise and really informative - thanks for sharing!
I'm also just holding my BTC currently.
 
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