Since Feb 24th, MA100 has been tested twice and all hold; after that EMA50 has also been tested twice and same (once the price touch EMA50, the price bounced up sharply). Plus, it's the first time that EMA50 crossed above MA100 since 2018 and the price hold steadily. ( You can see history data once EMA50 crossed above MA100, bull trend came.)
I have reason to believe the bear market is already end.
Now there is only one thing to confirm; if it is the time for a daily reversal. Upcoming two things which definitely gonna happen next two or three days will show the direction.
1. BTC will re-retest the resistance zone around 4250.
2. BTC is about to approaching the declining trend line since a year ago.
The signal of EMA50 and MA100 show the sign of strength, so I have reason to expect the final breakout of the resistance zone and the trendline, only we need to see is the power and volumes bulls accumulated.
Once it breaks out, it can be seen as H&S daily reversal and 5200 is expected.
However, there is probability BTC still do not have the power to break, then the market will turn bearish again and a new low may come.
Let's watch the show.
Happy trading all!
I have reason to believe the bear market is already end.
Now there is only one thing to confirm; if it is the time for a daily reversal. Upcoming two things which definitely gonna happen next two or three days will show the direction.
1. BTC will re-retest the resistance zone around 4250.
2. BTC is about to approaching the declining trend line since a year ago.
The signal of EMA50 and MA100 show the sign of strength, so I have reason to expect the final breakout of the resistance zone and the trendline, only we need to see is the power and volumes bulls accumulated.
Once it breaks out, it can be seen as H&S daily reversal and 5200 is expected.
However, there is probability BTC still do not have the power to break, then the market will turn bearish again and a new low may come.
Let's watch the show.
Happy trading all!