Bitcoin Is Doing It Once More, Shady Price Action + Multiple TF

We are right where we started back when Bitcoin was at $15,000 USD... The market looks overbought but the Bitcoin price continues to increase.

Let's have a look at the shady price action:

First, looking at the 1H timeframe, we have these steep drops that are quickly bought up, as if some magical entity/ies is trying to shake people out of their Bitcoins.

We have that strong bullish chart but the uneasy feeling that a drop can happen anytime... But it isn't happening.

A look at the 4H timeframe and we can see prices remain trading above EMA10, Bitcoin's potential remains favoring the bulls (GREEN), see the chart:

The last time EMA21 was hit on a wick and prices closed back above EMA10, we saw a new high being hit... This scenario can now easily repeat.

Finally, when we look at the daily timeframe, we can see a long lower wick/shadow on today's candle while prices for BTCUSD continue to trade safely above EMA10 while challenging resistance... The longer the resistance is challenged, the weaker it becomes.

The "Stimulus Pump" has been activated...
All that is left now is to be patient...
Be prepared and secure/enjoy the profits as they come.

This is Alan Masters.
Thanks a lot for your support.

Namaste.

Comment:

Monthly targets for Bitcoin up to $165,000