An Algorithmic outlook on Bitcoin

As forecasted on Twitter, the rally started exactly from mid may, when BTC bottomed in our support zone of around 26k. In general, I believe the low of 25.8k has been set and only up from here for the coming month or two.

As mentioned in my earlier ideas here, and on Twitter too, the main target is 36k - which I suspect will reach sometime in July.

That said, in the short term, the price looks somewhat overbought, so if you didn't go long at our entry point, it is risky to do so here. It is recommended to wait a bit for the price to cool off, be it a correction lower, or just sideways.

Furthermore, the AlphaNumero algo is very bullish on the 4H, however cautiously bearish on the 30minute. This is good confluence with my TA.

As always, trading carries risks and you must be well informed before making a decision. While this bullish scenario is likely, it is not a certainty. Invalidation for the 36k move is at 25.2k.

For those interested in the algorithm, it is linked below.

Comment:

The algorithm has no emotions :)

Comment:

Just like that, that neutral level not only held as resistance, but the algorithm recalculated the situation, and explicitly marked it as resistance the moment it was reached. Then a dump followed.

This is AlphaNumero.