Bitcoin Bulls Must Follow Through Next Week
Bitcoin made a strong recovery back towards all time highs. Things are looking good currently. But next week bulls must follow through.
I did want to warn of a few things to consider:
It’s October 4. That’s only 4 days into the monthly candle and quarterly candle. It would be somewhat unusual to see such a tiny amount of lower wick and we take off higher at the start of the candle.
On the weekly, we didn’t get a buy signal on the Bollinger Bands. There’s also a lack of breakout volume. The Bollinger Bands are starting to expand, signaling that volatility is back. This could lead to a head fake situation where we dump back to the lower band. Note: I am referencing the BTC CME chart. We could still get a buy signal on spot exchanges.
If we do get volume next week and break out higher, it should be one of the steepest climbs and a move towards a grand finale for Bitcoin.
