I don't think this chart pattern requires too much explanation - a move back to $5k (or at least $6k) is already taking place, before we move into the next "bull run". What reasoning can you come up with to dispute this being the likely situation?
Regardless, I am ultimately of a bullish outlook, as I would consider these all stepping stones on the way to a new all time high following the 2020 halving.
Save crucial space on your Trading View chart by utilising the free RSI and StochRSI indicator which overlays both in a clear and helpful fashion.
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
Regardless, I am ultimately of a bullish outlook, as I would consider these all stepping stones on the way to a new all time high following the 2020 halving.
Save crucial space on your Trading View chart by utilising the free RSI and StochRSI indicator which overlays both in a clear and helpful fashion.
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
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We're still beautifully on target for the $5k range within the next few months. Would be great to clear out many of the under-performing alts that need to die to help the crypto space prepare for the next bull run.
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The weekly 200 moving average is the crucial level we are currently heading towards in the coming weeks. Should we make it that low, it *must* hold, or things could get ugly. As it is, a drop to the $5k level would be very healthy.
