At last some activity for Bitcoin this week. Not much but for now it`s very bullish.
Actual PA situation:
1. At last the price significantly broke the upper side of the 3 years symmetrical triangle. If we close this week at this level the whole candle will be above this triangle which will be super.
2. 10 EMA – the price is perfectly bouncing from it again.
3. 21 EMA - the price is still above it even without a touch of it.
4. Correlation between 10 and 21 EMA – Despite the Corona drop every time when the 10 EMA is above the 21 EMA and the price is above both we can predict a very good bull period.
5. Parabolic SAR – Another bullish week and there`s 13 weeks bullish signaling.
6. Weekly pivot point is $9196.56. We`re far from it so far, so I can say that next week can be positive too.
7. Support and resistance:
1st support - $8500 - 50% Fibo and VPVR profile
2nd support - $7800
1st resistance - $9500-9800
2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above.
8. Like I told you last week the BTC volatility is very low. Under 40 actually. Like you`ll see from the chart, every time when this happened it`s followed by a significant move soon after it. Despite the corona drop, last such low was before the 14K run last summer.
All this points are 100% bullish and seems like Plan A is in play.
P.S. The 4th Golden gross on a 2D chart into a Bitcoin history is already a fact!
That`s all for now.
See ya next time.