BTCUSD: Finally Cleared 59345

They finally closed above 59345 on the 4-hour. If we stay above this level we’re still on track for 61165. There should be lots of liquidity coming up in this area, stops from all the short positions over the last few days. If they stay above 59345 and hit 61165, we can reassess. But for …

BTCUSD: Still Heading for 61165

Despite some end-of-month volatility for Bitcoin, I still think we’re heading for the 61165 area. The monthly chart closed bullish, and the 3-day cande broke the down trend by closing above 57207: The 1-day chart painted a bullish/doji candle and the 12-hour held support to continue the up trend: Even the 4-hour chart is holding …

BTCUSD: End-of-Month Volatility

As expected, we’re seeing some end-of-month (and 3-month) volatility: Let’s see if they hold 57207 and then 55575. The Bigger Picture There’s a lot going on today. We have the 3-month paint, 1-month paint, and 3-day paint. Starting with the 3-day chart: If they close below 57207, it would signal a continuation of the 3-day …

BTCUSD: Could Hit 61165 Today, But Monthly Close Looms

Our Bitcoin price prediction from yesterday was spot on: There’s not much on the lower time frames to suggest a reversal or slowing of bullish momentum. We saw another bull flag pattern this morning, which is targetting our 61165 level. The only issue is that we say goodbye to March today. Monthly (and 3-monthly) closes …

BTCUSD: Looking to Break 58350 Today

A reminder of our target on the monthly, coming up on Thursday. If we can break the Feb high of 58350, it’s six consecutive monthly candles that we’ve closed higher than the previous high: The weekly chart did see some weakness on 1st March with a close below the low of 45914 (purple). But they …