#Bitcoin #BTC #BTCUSDT #BTCUSDTAnalysis Bitcoin is very slow lately and the same price range has been holding for months, no change truly. Normally, even while we recognize all of the signals and keep a bullish bias, it is still normal to wonder if Bitcoin will continue growing.
The active price range is the same since late November. Bitcoin has been moving between $84,000 to $92,000.
Now, think of this. Do you remember after the higher low 18-December how sellers couldn't produce a price below $86,000?
Regardless of all the fluctuations and the sideways range, the lowest possible was $86,400, never below, and this development is still true today.
The lowest Bitcoin has gone was $87,277, yesterday, and you can see how easily this is the final low. Last month it was $86,400, 24-Dec, this month it is ~$87,000.
We have a trading range but still, there is a clear and undeniable bullish bias. The most recent move is a higher high that peaked at a perfect level based on Fibonacci retracement; all the action is composed of higher highs and higher lows.
So, we have a bullish consolidation period, we can even say an uptrend if we consider only the short-term. This will lead to a higher high next.
The last target at $98,000 matches the 0.382 Fib. retracement level (inverted correction) on this chart. The next target is 0.618 which sits around $108,800... And that's all I have to say.
While the doubt is in the air, it is not in the chart. Trust the chart and all will be good.
Look at SCRTUSDT or AXSUSDT which I showed you recently. Or BCHUSDT or BNBUSDT or XMRUSDT and you can get an idea as to what comes next.
The truth is that the next move has already being revealed. Bitcoin is going higher, at this point you can open LONG with any amount of leverage below 20X.
Any trading below $90,000 is a very strong buy opportunity right now. Do whatever you have to do to make the most out of this situation. It will soon be gone.
As soon as the relief rally is over Bitcoin will start to crash for months.
I've been mentioning Ethereum decoupling from Bitcoin but I don't really think so. I do believe Ether will produce massive growth before a major correction shows up, but when Bitcoin crashes everything crashes. Don't wait for the hype, greed and euphoria to take action. Now it is the time to go LONG.
Bitcoin is perfect right now, all the altcoins as well. The market is going up, but we have some reckoning to do after this bullish wave.
It is always the same; up and down, up and down, up and down... We can profit from both the bearish and bullish cycles... You just have to join me.
Thank you for reading.
Namaste.
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$BTC