We have been oversold on the RSI for a minute now and the few times it has touch oversold territory we have gone up! Then on top of that we have an inverse Head and Shoulder on the 4 hour. This can be explosive above $40k. Even with Jerome Powell, trying to scare the public and the FUD that has been circling around we are still good! When in doubt zoom out! Things are starting to look good and the month of February should be a good one. The bottom was set on Monday and now it is time to take off! The economy is well and nothing has change on the macro level. We do have to be cautious with Sleepy Joe Executive order which is coming up in a couple of weeks. This can be bad for crypto if he is trying to control us but we cant be stop. See yall at the top!!
BTC has been an emotion roller coaster but with the sentiment becoming more bullish we can really begin to fly. First off, the charts have decouple from tradition markets, this is a great sign. Second, we have countries like Russia, India, and the United States adding regulations which is a good thing for crypto. Then we have politicians, banks, and the countries speaking about their involvement in crypto. Last, the DXY is trending down showing weakness in the dollar.
I called the bottom out Jan. 27, now I am thinking this Bitcoin train cant be stop until we break 50k and we can more than likely hit those targets by the end of this week. Once we break 50k I can see more retail getting involve, creating FOMO!! This is the month of a major bounce and I really cant see the Fed hike causing any major downside to crypto going into March
Think about it, this is a GLOBAL DIGITAL ASSET, and with a limited of supply circulating it is only a matter of time this skyrockets. Make sure to have plan and act accordingly we are amongst an epic run.
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