Hi Folks, this is George and we are in 2023.
The last week was amazing, we saw so much green and we're not even close to St. Paddy's day!
First, no, stop calling 50k! Any call made to 50K is made of pure... nothing.
If you wan to climb the Everest you want start with the base camp and then you slowly get to every stage all the way up. You never know what you'll find you before your next stop.
So, yeah, we did go trough the 18 500 resistance and that's good news. As we speak Bitcoin is at 21 166 USD. Really close to the next resistance.
The next big resistance is at 22k. We have a good support at 18 500USd, so if you're gonna trade you have to set that level for a potential pullback.
Monthly chart:
Monthly chart is really positive. PA indicator show us that the green line is up going toward 30. It could indicate a run to the yellow doted lie (34 250 USD), but it's too soon to say, a lot can happen until this candle closes.
The Money Flow index is green and at almost 14. Historically it's good sign announcing a bull run. But where it comes to trading the past doesn't guarantee the future.
In conclusion, what will happen in the next few weeks will tell us if we are in accumulation. We might see a move up before a pullback to 18 500USD and if it holds we may be in accumulation... and then we wait for the pressure to build as Bitcoin go sideways... and then... well the market will tell us more.
Nobody can predict the future. Follow the price and act accordingly. Don't loose your shirt over BS and influencers. Make a plan and be ready.
What do you think? Will we see 22K + soon or this was just **fomo **and we'll go back to the abyss?
Thank you again for reading.
Good luck and good profits.
GGP
