BTC/USD - Bullish price action ready to recover lost ground!
Bitcoin has been left behind by most altcoins lately with its dominance falling at a concerning rate (6% in a week, see below my idea).
While this is very bullish for alts, it is not that good for BTC which at least maintained its price level and consolidated in this area just under 60k.
However, I expect BTC to soon show again who is king and once we clear above 60k, BTC will be ready to push much higher and set a new all time high around the 70k area.
Right now, the indicators are looking bullish and BTC seems ready to attempt another try at this local resistance and push above it. I expect a re-test of this level any time now and likely we will move beyond this resistance and leave it behind us without much concern...
MACD crossed on the positive side, RSI rising... we're looking sexy and what matters is that this last green candle had decent volume, seems interest in the crypto market is increasing again as most altcoins also registered increased volume today... all this makes me very bullish overall.
Money is coming back into crypto after people took a break in March that registered decreasing volumes across the board... moreover, once the party with alts starts to fade most of those profits will go where they ALWAYS go... into BTC. Just a matter of time.
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While this is very bullish for alts, it is not that good for BTC which at least maintained its price level and consolidated in this area just under 60k.
However, I expect BTC to soon show again who is king and once we clear above 60k, BTC will be ready to push much higher and set a new all time high around the 70k area.
Right now, the indicators are looking bullish and BTC seems ready to attempt another try at this local resistance and push above it. I expect a re-test of this level any time now and likely we will move beyond this resistance and leave it behind us without much concern...
MACD crossed on the positive side, RSI rising... we're looking sexy and what matters is that this last green candle had decent volume, seems interest in the crypto market is increasing again as most altcoins also registered increased volume today... all this makes me very bullish overall.
Money is coming back into crypto after people took a break in March that registered decreasing volumes across the board... moreover, once the party with alts starts to fade most of those profits will go where they ALWAYS go... into BTC. Just a matter of time.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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