Let's keep this one short & sweet. Bitcoin is in a short term uptrend after a potential bottom on Jan 22 2022 (the start of the bottom trend line) after months of downward crab action. What we're looking at here is the 3-Day chart for Bitcoin with the free version of market cipher B & several EMA lines. The yellow dotted line is my trend zone drawn on Feb 24 2022. We have clearly broken that trend line to the upside.
What hasn't happened in more than 13 months; are the 5 consecutive green candles on the 3-day chart. Feb 22 2022 was the last time. We are currently on green candle number 6, but there is still time for the green to flip red. Market Cipher B has printed a red dot (a sell signal) on every time interval before the 1-day chart, this red dot is coming. The bull run may very well be back on, but we need a correction first, likely 10-12% minimum. That would put us at 41.7k-42.7k USD.
None of this is financial advice (obviously) but I'm personally going to be watching 41k as a crucial level of support. I think that 41k is worst case scenario for a true "correction." Anything lower (on the 3-day close) would tell us that this was just the Bulls coming back in after storming out screaming "And another thing!"
What hasn't happened in more than 13 months; are the 5 consecutive green candles on the 3-day chart. Feb 22 2022 was the last time. We are currently on green candle number 6, but there is still time for the green to flip red. Market Cipher B has printed a red dot (a sell signal) on every time interval before the 1-day chart, this red dot is coming. The bull run may very well be back on, but we need a correction first, likely 10-12% minimum. That would put us at 41.7k-42.7k USD.
None of this is financial advice (obviously) but I'm personally going to be watching 41k as a crucial level of support. I think that 41k is worst case scenario for a true "correction." Anything lower (on the 3-day close) would tell us that this was just the Bulls coming back in after storming out screaming "And another thing!"