In this chart, I want to show the important levels that will decide if the long-awaited bull market has already started. We have to wait for it to be confirmed. I'm not sure yet. We see that since April 29, 2020, we have been holding the growth trend line and at the same time the WMA 21 correlates with it. If we did not maintain this level and break it down, we could see a really ugly fall. The longer we test this trend line, the more dangerous its breakthrough will be.
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I would also like to point out some important indicators of the uncertain uptrend. I follow RSI on the weekly chart. The marked level of 53.54 has always meant an uptrend in the past and correlated with WMA 21.
On the monthly chart, I don't like the bearish divergence on RSI.
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I'm watching WMA 21 very closely. If BTC doesn't keep it, we're probably not in the long-term bull market.
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The current price action looks like an abc correction in the channel. We have now tested the top line of the channel and we have a bearish divergence on the 4h time frames.
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Good time to short.
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BTC broke the Bullish level (Invalidation level for bearish scenario). Created a higher high. So we can assume that we are already in a long-term bull market. If stock markets fall sharply as a result of the COVID-19 measure, we will see how BTC and the entire crypto market react. Today we can see that the S&P 500 Index is consolidating and cryptocurrencies have pumped significantly. This is a linear graph. BTC tested the dotted growth trend line from below. If he can break it, it will be very bullish.