🅱️ (₿) Another 6 Major Development On The Weekly Bitcoin Chart

12 Jan 2023

We have another major development to share with you...

(1) The major downtrend that started after Novembers 2021 All-Time High has been broken.

(2) Bitcoin is moving back above the June 2022 low.
The short period below this level can be considered easily market capitulation, liquidity hunt, etc.

(3) Very strong bullish divergence with the RSI.
The RSI bottomed in June 2022 while bitcoin bottomed in November 2022.



Notice that Ethereum and thousands of other altcoins did not hit a new low in Nov./Dec.

(4) Bitcoin is back above the 0.786 Fib. retracement level for the full March 2020 to November 2021 bullish cycle... Wow!

(5) Volatility increases. Regardless of the direction, an increase in volatility indicates upcoming change. The cryptocurrency market being bearish for more than a year, change would be bullish.

(6) Mars goes direct. Mars went retrograde 30-October 2022, a period of indecision and introspection. As Mars now goes forward, 12-January 2023, it is time to take action. In the case of Bitcoin, this means growth.

$24,000, $30,000, $35,000, $40,000 or more?

Here we go!

Namaste.

P.S. I was going to share 1 major development, #1 and ended up with 6... 😅 Thanks a lot for your support.

13 Jan 2023

Catatan

Correction point #2: Market manipulation not capitulation.
Typo.