Bitcoin continues with strength in its upward movement, yesterday's correction was minimal indicating that there could be an upward momentum in the short term, before its correction
%2011.06.31.png)
We'll see, what may be your next short-term bullish objective, breakout of the Gaussian Channel.
Very important what Bitcoin is marking in its Capitalization and Fibonacci. Keep reading
Let's get started
A few days ago I made a post indicating a possible breakout, the upper part of the channel, to the rise of Bitcoin in the Gaussion Channel weekly chart and it has been so. This is very important to validate a long-term Bitcoin uptrend.
%2009.27.40.png)
%2011.19.41.png)
Something that we have not seen in Bitcoin since July 2020.
%2011.21.57.png)
But more important seems to me the week of May 2019, since it indicated the end of the long-term correction and the beginning of a long-term bullish period of bitcoin.
%2011.27.03.png)
As we also saw in Bitcoin in December 2015.
The weekly candle will be important. Close above, breaking the upper range to validate a long-term Bitcoin uptrend
If we analyze the graphs of previous cycles, we see that Bitcoin remained bullish for several weeks after its breakout and then made a correction until it retested the upper limit of the Gaussian channel,, what do you think?.
Dominance
Bitcoin continues to rise in dominance
%2010.50.45.png)
It broke 50% upwards, an important figure on a psychological level and at this moment it is at 51.65%
Institutional investors are buying Bitcoin
We see increases in Alcoins but to a lesser extent than Bitcoin.
Important to see if the dominance continues to rise in corrections, which would suggest that alcoins can continue to regress with respect to bitcoin
Capitalization
Something very important that Bitcoin is marking in its capitalization is the size of the bullish candle.
%2011.33.08.png)
Bitcoin capitalization is retesting the April 2024 highs.
To rise to this point in April it has taken 4 weeks for the Bitcoin Capitalization. This week's candle therefore shows strength.
In its fall it took 8 weeks to fall from 580 billion to 500 million, now it recovers it in 1 week.
%2011.41.17.png)
Applying Fibonacci Extension we see that the capitalization of Bitcoin gains 1,618 and the next target could be 2,618 for 800 billion.
Fibonacci
It continues to rise today. At the time of making this post, Bitcoin already exceeded 30,200 dollars.
%2012.02.42.png)
To think that a week ago it was at 25,000 and some analysts, according to their analysis, said that bitcoin would reach 20,000 or less. what do you think?
I leave you the analysis of Bitcoin Fibonacci to 63000
As I mentioned above, the break of the channel could indicate that the medium-term correction could be complete.
%2010.39.00.png)
If we measure by fibonacci, the entire bullish cycle, it only corrected 38%, which would indicate either that there is a lack of correction or that bitcoin's momentum would be very bullish in the long term. What do you think?
%2011.13.15.png)
If we apply elliot waves we could complete the first 5 waves of wave 1, of the great upward momentum, as well as its correction. (waves 2)
If we measure, wave 3 would be giving, at 2.63 fibonacci extensions, for the target of 63,000 dollars,
%2010.54.11.png)
Analyzing a time line, we could reach the goal, by the end of 2023, then starting a new correction, until the possible May halving date, what do you think?
What do you think
Leave your comment, thank you !!!
READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are. Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment. If you make exchanges or investments after reading this publication, it is entirely at your own risk. I am not responsible for any of your gains or losses. By reading this publication, you acknowledge and agree that you will never hold me liable for any of your profits or losses.
Spanish
Bitcoin sigue con Fuerza en su movimiento al Alza, la correccion de ayer fue minima indicando que podria quedar un impulso al alza a corto plazo, antes de su correccion
Veremos, cual puede ser su proximo objetivo al alza a corto plazo, Rompimiento al alza del Gaussian Channel.
Muy importante lo que Bitcoin esta marcando en su Capitalizacion y Fibonacci. Sigue leyendo
Comencemos
Hace unos dias hice un post indicando un posible rompimiento, la parte superior del canal, al alza de Bitcoin en el Gaussion Channel grafico semanal y asi ha sido. Esto es muy importante para validad una tendencia alcista de Bitcoin a largo plazo
Cosa que no veimos en Bitcoin desde julio del 2020.
Pero mas importante me parece la semana de mayo del 2019, ya que indicaba el fin de la correccion a largo plazo y el inicio de un periodo alcista de bitcoin a largo plazo.
Como tambien lo vimos en Bitcoin en Diciembre del 2015.
Va a ser importante la vela semanal. Que cierre por encima, rompiendo el rango superior para validad una tendencia alcista de Bitcoin a largo plazo
Si analizamos los graficos de ciclos anteriores vemos que Bitcoin se mantuvo alcista varias semanas despues de su rompimiento para luego realizar una correccion hasta volver a retestear el limite superior del canal del Gaussian. Que piensas? Comenta.
Dominancia
Bitcoin sigue al alza en la dominancia
Rompio al alza el 50%, cifra importante a nivel psicologica y en este momento se encuentra en 51,65%
Los inversores institucionales estan comprando Bitcoin
Vemos subidas en las Alcoins pero en menor medida que Bitcoin.
Importante ver si la dominancia sigue subiendo en correcciones, lo que daria por entender que las alcoins pueden seguir retrocediendo con restpecto a bitcoin
Capitalizacion
Algo muy importante que esta marcando Bitcoin en su capitalizacion es el tamaño de la vela alcista.
La capitalizacion de Bitcoin esta retesteando los maximos de abril del 2024.
Para subir ha este punto en abril le ha tomado 4 semanas a la Capitalizacion de Bitcoin. La vela de esta semana por lo tanto demuestra fuerza.
En su caida tardo 8 semanas en caer desde los 580 mil millones hasta los 500 millones, ahora lo recupera en 1 semana.
Aplicando Extension Fibonacci vemos que la capitalizacion de Bitcoin gana el 1,618 y el proximo objetivo podria ser los 2,618 por los 800 mil millones. Que piensas?
Fibonacci
Sigue al alza el dia de hoy. Al momento de hacer este post Bitcoin ya supero los 30200 dolares.
Pensar que hace una semana estaba en 25000 y algunos analistas segun sus analisis decian que bitcoin llegaria a 20000 o menos. que piensas?
Les dejo el analisis de Bitcoin Fibonacci to 63000
El rompimiento del canal podria indicarcon que la correccion a mediano plazo podria esta completa.
Si medimos por fibonacci, todo el ciclo alcista, solo corriguio un 38%, lo cual indicaria o que falta correccion o que el impulso de bitcoin seria muy alcista a largo plazo. Que piensas?
Si aplicamos ondas de elliot podriamos estar completas las primeras 5 ondas de la onda 1, del gran impulso al alza, como asi su correccion. (ondas 2)
Si medimos, la onda 3 estaria dando, en el 2,63 de extensiones de fibonacci, por el objetivo de los 63000 dolares.
Analizando una linea temporal, podriamos llegar al objetivo, para finales del 2023, comenzando luego una nueva correccion, hasta mayo fecha posible del halving, que piensas?