Bitcoin Price Up To 60% In Three Weeks

 Bitcoin actually just right now got a weekly close above this white horizontal level the last time this happened was back here and last time this happened bitcoin went up in two weeks 70 is it possible that bitcoin is right now going to go up 70 to 20 000 within 14 days well this literally happened right back here so of course it can happen again i want to talk more about the weekly time frame and the fact that we're seeing something right now happening that hasn't happened in years 

Bitcoin is doing something right now that is extremely bullish on the weekly time frame all right guys what you can see now is that bitcoin has gotten now a weekly close above this white horizontal level this white line is roughly the 11.5 k level and you can see that we didn't see a weekly close back there we only saw a few weeks here on the weekly timeframe but basically we did see a rejection there as you can see and also back here you can see how bitcoin got rejected by this level and that's arguably when the bitcoin bear market started here what does this mean well this means that bitcoin is right now getting a weekly close above a level that we haven't seen bitcoin having a weekly close since all the way back here which is actually back in january 2018

This is a major major key event that is playing out right now and we know that bitcoin can go very very volatile in these regions because bitcoin has essentially only been trading up here for a few weeks compared to down here where we've seen the majority of the bear market being traded so there is a lot of resistance down here because there's so much volume traded but up here it's essentially just blue skies where bitcoin can go vertical very very quickly so we could snap back to 20,000 very very fast in fact let's take a look at how quickly bitcoin went to 20,000 after getting a weekly close above this level last time you can see that this happened right here bitcoin this was the first time bitcoin breached above this level and successfully had a weekly close above this this 11.5 k level and let's just see here from this level in two weeks bitcoin went up to 20,000 

So what happened was that back then we went from this level in two weeks 70 all the way up to twenty thousand dollars we know that bitcoin could do this this is not um outside of the realms of possibilities so we could literally see bitcoin snap back to twenty thousand within weeks now it actually happened just a few years ago here i think bitcoin is way overdue for retesting the 20,000 level 

The only question is when is that gonna happen and it seems like maybe it's gonna happen sooner rather than later is this break fully decisive yet well we do have a weekly close above i would love to see some more follow through here and get some volume coming in here on the weekly time frame that would be my ideal scenario to to be more bullish here but this is a technically very very bullish thing so we should for sure pay attention right now as the weekly chart is looking more and more bullish and i want to take a look at the short term here in just a minute um and this diamond pattern but before i do that i just want to show you how you can get 0.3 bitcoin basically without doing anything at all 

Posted Using LeoFinance