BTC 1W

31 jul 2021

In the weekly chart, we can see an increasing volume to the upside and stochastic indicator started triggering on the low as well. Both are really good signs of a bullish market is due. Level $50,000 becomes extremely important. If 50,000 becomes the support, that will bullish from that point and we naturally look up to the next major level which would be $80,000. If 50,000 becomes the resistance, we will have another leg down to form wave (C). It means the current corrective ABC move is part of a larger (A)(B)(C) and after forming that we will cruise up to $80,000 level. All in all, the EXCITING NEWS is in both scenarios we will be in bull market as we got a corrective ABC following a bullish market forming wave 5. Congrats to all HODLERS.