Today Bitcoin broke up flag pattern coming from 38K. The target of this pattern is to reach 69K.
69K USd is all time high level of Bitcoin. Bitcoin may touch there in a few months. Today Bitcoin price went up and broke up flag pattern which is in since end of January. It may be early pump to go to all time high.
I am sure that we will see all time high this year. After halving we may see price correction.
Here you can see daily chart of Bitcoin. Bitcoin price accumulated 52K USD level and went up to 53500 USD today. Flag pattern is broken up and the target is close to 69K!
When we look at the indicators of daily chart of Bitcoin, We may see it may be fake pump.
There is MACD Indicator below. It is reversed and turned to bullish side. We have seen this scenario before. Bitcoin price may go up slowly in this area..
MACD Indicator is on sky rocket level. We should see price correction. But Bitcoin is trying to conntinue to pump.
So, It may be fake pump. Bitcoin should stay before reaching 69K. Bitcoin needs to rest. We have not seen resting on Bitcoin price from 38K to 52K. So, It may be early to pump.
I think that MACD Indicator will enter correction. During this correction we will see altcoin bullish season. After Halving, It may be possible to see price correction on crypto market.
We will see..
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I believe we will experience some pull back before finally having a rally.
Just my personal opinion though
This is good thing, let's hope for the best.
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