Hmmm....
I see many people shorting BTC or speculating that BTC is in for another bull trap but I don't think so. Here's why:
We are in the cloud!
Chart #1: BTCUSD / BITFINEX / 1D https://www.tradingview.com/x/y7qxzdc4/
It's been about 2 weeks since my last post but nothing surprising has been going on with the Bitcoin (BTC) chart. Anything lower time frame is still showing fairly strong bullish signals. As you can see in the 1D chart, bullish TK cross is very close to forming. I mentioned in the last post that BTC needs TWO big bullish moves for Tenkan Sen (the blue line) to move up to cross the Kijun Sen (red line). I think we are in that second move. With that said if the bullish TK cross does happen in the next few days, BTC can expect edge-to-edge price action.
Possibility Target #1: 12900 USD - If the BTC moves up in a parabolic move this target is not out of the possibilities. I don't think it's likely because that would require almost the hype seen back in December/January
Possibility Target #2: 11600 USD (most likely) - I think this target is very likely. BTC will be keep seeing higher-highs and lower-lows. Like I mentioned before IF bullish TK cross occurs I don't forsee a formidable correction of BTC until we hit this target.
I will be posting more often and look at other altcoins as well.
https://twitter.com/ThinkerCrypto
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