BTC bear market is over? Setting a stage for next Targets of 41K
Updated
Summary and Technical Outlook: BTC bear market is ended since the MSS happen in weekly TF with an impulsive price breakout, and the price witnessed continuation after impulse correction.
Price is in an uptrend after changing the market structure now creating Higher highs and higher lows.
Presently market just completed the impulse correction of a most recent impulse move and witnessing a solid rejection from the Daily OB as well. With, this anticipation for BTC is that the BTC will meet the next target at 1 Standard deviation of impulse correction which is resting around 41K.
Fundamental Outlook: The Black Rock filing for BTC ETF is very hawkish for the BTC but the market didn't react yet, We can expect the Market total cap of BTC to lift at least by 350Bn - 500Bn in the coming months, Also FED pause opening the door for risk-on assets, China easing toward crypto regulations is also the positive signals.
Note: The information and publications are not meant to be, and do not constitute financial, investment, trading, or other types of advice or recommendations supplied or endorsed by publisher.
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Price is in an uptrend after changing the market structure now creating Higher highs and higher lows.
Presently market just completed the impulse correction of a most recent impulse move and witnessing a solid rejection from the Daily OB as well. With, this anticipation for BTC is that the BTC will meet the next target at 1 Standard deviation of impulse correction which is resting around 41K.
Fundamental Outlook: The Black Rock filing for BTC ETF is very hawkish for the BTC but the market didn't react yet, We can expect the Market total cap of BTC to lift at least by 350Bn - 500Bn in the coming months, Also FED pause opening the door for risk-on assets, China easing toward crypto regulations is also the positive signals.
Note: The information and publications are not meant to be, and do not constitute financial, investment, trading, or other types of advice or recommendations supplied or endorsed by publisher.
all copyrights are reserved.
Contact for permission
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