Bitcoin Sentiment - Bullish! 3/2021
Has Bitcoin already reached it’s peak? Or is it still setting up for another parabolic run? In my opinion, it is the latter. And I am going to discuss some bullish signals why I think that bitcoin still has some more room for the upside…
Here is a quick bitcoin snapshot on tradingview.com.
We Are Looking At BTC On A 4H Time Frame
Points to Consider:
- Decreasing Price Reactions
- Decreasing Volume Signature
- Upsloping Trend
Decreasing price reactions on symmetric triangle formations -27%, -22%, -14% respectively = ✔️BULLISH
Decreasing volume signatures signifies decrease in selling pressure. Just waiting on Demand to come = ✔️BULLISH
We are still on a Upsloping Trend on a long term perspective = ✔️BULLISH
ROCKETSHIP Prediction still Intact for Mid March. In Fact we have already seen a lot of Bullish actions especially for alt coins!
70k as Initial Price Target But Goal target is 70–90k $BTC
Crypto Fear & Greed Index is 72 (Greed) right now, as people are buying the dips which pushes the crypto market prices higher!
Bitcoin being a bit sluggish while the Altcoin Market is currently leading the market as we are seeing new all time highs. The question is, will it sustain?
Another point to consider is, there are a couple of laggards out there that hasn’t shown any major price movements yet like XRP, EOS and IOTA just to name a few. It would be sad to see if we end this bull market without them even reaching their previous highs.
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