The price is moving into this daily channel. (is it a bull flag ??? 👀🚀)
The main trend remain bullish (weekly and monthly) 📈
The last daily close was pretty good with a clean retest of the golden pocket, SSB (kumo and Kijun level)!
Zoom on the daily & weekly view:
The precedent dump and bullish reaction confirmed that the bullish trend is strong. (retest of the channel + kijun)📈
The weekly candle also tested perfectly the Tenkan again perfecty!
This can be seen as a retest before a new rise!
Zoom on the monthly view:
It looks like a bullish consoldiation with a perfect retest of the Tenkan (Monthly)!
The tendency in place seems very strong, all dips are buy!
The $54,000 zone probably marked the final retest of the previous ATH of 2021! 🚀
The lower key support is around 51,000 - 48,000 $ and will also be very hard to break!
This strong bullish reaction seems to invalidate my previous bearish scenario towards $51,000!
What's next for Bitcoin & the Crypto market? 🐳🚀
As there is no historical data, I recommend that you focus on the ATH resistance and on key psychological levels such as: $80,000 - $85,000 - $100,000! 📈
These prices could easily be reached. The more time passes, the stronger the demand for Bitcoin! Especially with ETFs and the current weakness of FIATs like the and US Dollar the Euro! (Taking into account the current economic context)!
We must also take into account the upcoming US elections in November! Bitcoin's consolidation could last until then! Donald Trump should logically win. Based on recent Pro #crypto announcements, if this is the case, it could give #crypto market a huge boost!🚀🚀🚀
Don't lose patience, and above all please don't sell your long-term investments!!
Low caps are much more volatile and don't always follow the Bitcoin price! Their price varies more according to the news, the project and the token economics!⚠️
Having already been present at 2 bull run phases, I can easily tell you about my experience! I've noticed that many large caps are on monthly/weekly supports zone. They should soon start to rise again, and this could happen quickly if $BTC continues to consolidate and rise! 📈
A bullish breakout of bitcoin will attract many old and new investors (whales, institutions....). Blockchain activity will also rise again, and many #DEX could also benefit from the incoming liquidity!
If you're new to the crypto-currency market, I'd recommend avoiding small caps (if you don't know much about them). Instead, invest in LARGE caps and solid old projects like ETH , LINK , GRT , MATIC, SOL.... Believe me, they'll probably be the first to blow up after bitcoin (Liquidity in low caps should move to LARGE caps first).
Let's hope for a good bull run by the end of the year (Q4 2024 - Q5 2025)! 🚀
In any case, bitcoin's current trend is very healthy, and the price should continue to rise!📈 (Don't be fooled by short-term volatility⚠️)!
After discussing it with my community, I will now publish my bitcoin analysis daily!
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