See original
Ualifi Araújo
--
Bullish
Analysis $BTC 05/20/2024
Bitcoin has perfectly followed the plan so far and will continue to do so until it reaches its target at USD73K. See that for a while we had a lateralization within what we expected for the weekend. Now we are seeing BTC jump as early as Monday, and a close today above USD67,400 is what will quickly take us higher.
I've been saying for some time now that I see no reason to be bearish here, of course we won't go up forever, but there is still room to go higher, and today we are seeing +2.50% gains in Bitcoin, as was expected for the beginning of the week.
The bulls should attack USD 73K during this week, and we have several events during this week that make this attack higher possible, on Wednesday, Thursday and Friday, events that will have an impact on the price, obviously I expect it to be an impact positive.
One thing I'm not liking here is the fact that the big BULLS are not moving above USD 61K, they are leaving all the work to the cash buyers. So this lack of large orders closer to the price causes the feeling that we don't have good support, which we should already start to have at USD 63K/USD 64K, in any case it still looks good, and obviously we will have NVIDIA's gains to boost here.
The big bears started to position themselves closer to the price, already taking risks at USD 70K, obviously it is too close to the price and this should not be real, as the price rises quickly, these big orders will come out of there.
The smart spot here for the bulls is USD 73K/ 74K and we all know that, and no matter how much they try to pressure the price psychologically, it won't work, not here, not now!
We will reach USD 73K soon!
(SHARE THIS GRAPHIC IF YOU CAN!)
Bitcoin has perfectly followed the plan so far and will continue to do so until it reaches its target at USD73K. See that for a while we had a lateralization within what we expected for the weekend. Now we are seeing BTC jump as early as Monday, and a close today above USD67,400 is what will quickly take us higher.
I've been saying for some time now that I see no reason to be bearish here, of course we won't go up forever, but there is still room to go higher, and today we are seeing +2.50% gains in Bitcoin, as was expected for the beginning of the week.
The bulls should attack USD 73K during this week, and we have several events during this week that make this attack higher possible, on Wednesday, Thursday and Friday, events that will have an impact on the price, obviously I expect it to be an impact positive.
One thing I'm not liking here is the fact that the big BULLS are not moving above USD 61K, they are leaving all the work to the cash buyers. So this lack of large orders closer to the price causes the feeling that we don't have good support, which we should already start to have at USD 63K/USD 64K, in any case it still looks good, and obviously we will have NVIDIA's gains to boost here.
The big bears started to position themselves closer to the price, already taking risks at USD 70K, obviously it is too close to the price and this should not be real, as the price rises quickly, these big orders will come out of there.
The smart spot here for the bulls is USD 73K/ 74K and we all know that, and no matter how much they try to pressure the price psychologically, it won't work, not here, not now!
We will reach USD 73K soon!
(SHARE THIS GRAPHIC IF YOU CAN!)
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
104,388.56
-2.27%
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