For those of you who have been following me you will recognize this weekly chart minus all of the previous notation. I took everything off and replaced my previous trend line with a Fibonacci Channel to see how it all lines up. Pretty darn good in my opinion. You will notice to the right how we broke over the Fib line and have recently touched back the same way as my original trend line. It is still my expectation that this week's candle will be red and we will start to build on a green one next week. The 20/40 week moving average cross should also become more pronounced as we open up a new weekly candle tomorrow. Although there will be plenty of opportunities for the Bears to carve out some short trades here and there I still think the overall trend remains bullish. Over the next several weeks as the 20/40 cross widens and strengthens there should be no doubt in anyone's mind that the new Bitcoin Bull Market has begun.
Good Luck!
Good Luck!
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I changed the Fib Line color so you can see my original baby blue trend line.
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Here is the previous weekly chart with notations
