1/ Let's look at the market!
As promised we will dive into what going on with the Bitcoin Market.
We are seeing a very unique situation now. First of we can see that Bitcoin has now confirmed with yesterday's close a classic textbook pattern where we have got higher highs and higher lows.
This is an extremely bullish pattern, especially if we combined it with the Eliot Wave theory. Where we have a full bull trend recovery. BUT before we get above the previous ALL-TIME HIGH(64895) a reversal in a double top is not confirmed ( technical speaking ).
From a technical perspective, the Bitcoin marked started to go in the BULLS favor when we crossed the bearish trendline that you can see Bitcoin tested at Elliot Wave(1).
Bitcoin got to resistance Elliot Wave(3) at a very important technical point Bull Barrier median where we tested 40000 before going for a new higher high Elliot Wave(5) and closed ABOVE the Bull Barrier median crossing and closing above the second bearish trendline.
This is extremely BULLISH
Today we can see Bitcoin did a perfect pullback testing and right now pushing above the Bull Barrier Median.
What's next is of course hard to predict, but what we potentially can see is that Bitcoin will retest lower PIVOT SUPPORT before testing the upper Bull Barrier Band at 60080( this is moving daily )
YES, this can still be a BULL TRAP but if Bitcoin doesn't get rejected at the upper Bull Barrier Band and does close above it over the next few weeks there will be a very high probability we will get a higher high.
We will be out with PART 2 tomorrow we will be doing a retrospective of Bitcoin Crypto Assets DAA, where we are now, what we are focusing on and where we will be going into the future.