Is bitcoin priming for 6 digit prices?
Is bitcoin priming for 6 digit prices?
Bitcoin / U. S. Dollar KRAKEN:BTCUSD
TulpenFieber
This bullrun came out of nowhere and also did not give us the deep correction that we've come to expect from the previous bull/bear cycles. In fact, bitcoin managed to correct and accumulate inside the indicated range for an extended period, which is quite a feat considering the price per unit. This brings me to the conclusion that the correction is possibly over and bitcoin is ready to test ATH again. Also since the previous bear cycle was extended for a longer period (than what we know from history), it doesn't make sense to start another bear cycle right now. This reduces the probability for lower prices. What's even more strange and adds weight to the theory is that, it looks like (based on certain indicators) the next bull run has already begun!!
BUT!!
Bitcoin's strange MO is to always paint a green future ahead, just before dumping real hard. So take this one with a grain of salt.
Confirmation to look for:
The weekend is bullish and closes as indicated on the chart.
Trade will activate on confirmation!
Disclaimer: These are not trading signals. Trade at your own risk!
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