SchoolTube Community
Welcome to another episode of our Bitcoin analysis! As you can see, the weekly chart is pointing in one direction, and that's up! We've had three green weeks in a row, and we're one step away from all-time high Bitcoin. Let's dive into the details and see how close we are to breaking out of this consolidation phase.
The Weekly Chart
The weekly chart is fantastic, with three consecutive green weeks. Kevin Sanson also noted in his video that we're seeing a massive consolidation phase. As we broke out of the consolidation, we got a candle of around 14% to 13.8%. If we get the same from here, that would be approximately $74k. If we just get one of these candles, let's say next week, 20% would be here at $78k. We're so close, and the most important thing is that we keep momentum to the upside.
Bitcoin Dominance
Bitcoin dominance keeps dropping, which is potentially the massive start to the big altcoin season that we're all waiting for. This week has been very red for Bitcoin dominance, which is good for altcoins. We will see it fall more and more, and that's my bet. We have a lot to discuss today because most people currently don't know how far we are from all-time high and how far we've come during the last six months building this insane base.
The Base
This kind of base is the best thing you can ask for when we are looking at the breakout target. When we're looking at how the bull market will continue, you need to have a nice base in order for the breakout to be massive. It's basically the foundation for the next move. We've been in this range around these prices even a week ago and the week before that. It's not really about the price-wise that we're close, which we are. Price-wise, we're very close to all-time high, but we need the momentum, and the momentum is here. It needs to continue, and that's what we're witnessing right now.
The Momentum
Momentum being very strong is crucial for the next move. We need to keep this momentum to the upside. As you can see, we have a lot of green candles on the weekly chart, which is a good sign. We need to keep this momentum going, and we need to break out of this consolidation phase. We're so close, and we need to keep pushing.
Conclusion
In conclusion, Bitcoin's breakout from the consolidation phase is imminent. We're one step away from all-time high Bitcoin, and we need to keep the momentum to the upside. The weekly chart is fantastic, and we've had three consecutive green weeks. Bitcoin dominance keeps dropping, which is potentially the massive start to the big altcoin season that we're all waiting for. We need to keep pushing and break out of this consolidation phase. We're so close, and we need to keep the momentum going. Stay tuned for more updates on Bitcoin's breakout and the cryptocurrency market.
References
Hashtags
Bitcoin #BTC #Cryptocurrency #MarketMomentum #Consolidation #Breakout #AllTimeHigh #AltcoinSeason
You may also like