This is your weekly update!
ALTS were flying and now $BTC is making an incredible move. Can't really make something out of it to be honest.
I'm happy we are not standing on the sideline. Perhaps the old saying is right "Never short a bullish bitcoin".
Could also just be the last "spurt" into the green box.
How does the 1D chart look like today?
Cloud is green
Price is above the green cloud
Price is above the red line. The red line has crossed the blue line, which means price is back in its upwards trend.
Lagging span (green line) is above the green cloud.
All of the above is very bullish
Price is again the overbought zone (above 70), and on the 4H chart there is still strong bearish divergence.
On the lowest indicator of the chart it shows correction is over, and it starts a new uptrend!
It did however, not reach the bottom. One could ask how strong this new uptrend is.
What could be the Target?
I'm not so sure this time. Usually when everybody thinks we can do much more up, we correct. Because price wants to find max liquidity.
But then again, never short a bullish bitcoin because I have seen it can go up and up and up without even correcting.
I'll just watch it closely and give you and update along the week when there is more clarity.
What does this mean for GRAZZP™ Strategy?
Thanks all! And enjoy the week!