Is this a bull run?

Is this a bull run?

By Gregor-Flyge | Philosophy Gubuka | 3 May 2020


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Hi,

I wanted to show you the one simple chart above. I connected the low of 2015 with the low of 2018 (red fib circle) and the high of 2017 with the high of 2019 (green fib circle).

We can see that Bitcoin managed to stay in the green rings and didn't close below at any time. The outermost ring correlates roughly with the 200 WMA which has always been the last support for Bitcoin. 

If Bitcoin was leaving the green ring it would be a sign that it will never go up again. 

  • But the contrary is the case. Bitcoin leaves the "bearish" red territory to the upside. I expect a pullback to the outer red ring, maybe even lower but I see more and more confirmation that this is in fact a bull run. 
  • The halving is at the door and I assume the price could rise even more until a deep correction probably around the halving (sell the news remember?).
  • So don't fomo, if you already have cryptocurrencies and want to buy more.

I tend to tell my fellow non-hodlers please buy just 100 or 1000$ of BTC, even that could make you rich one day. We know that the world economy is crashing and the fiat system will end this or at least the next year. Bitcoin was made for this (not financial advice)!

If you want to see more TA please like :)

Do you think Bitcoin will succeed or is this a fake rally?

 

 

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Gregor-Flyge
Gregor-Flyge

Philosophy, Cryptocurrency, Fitness & Nutrition. None of my content is intended to be medical or financial advice.


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