A very strong bullish 'Hammer' signal (weekly chart) for Bitcoin

10 באוג׳

The technical picture for Bitcoin (BTC/USD) now signals that the price of BTC/USD may can reach $1-2 million and within only 1-2 years.

Bitcoin is moving within a long-term upward trend, and is now finding solid technical support down towards the lower trend line in this long-term upward trend (cf. weekly chart).

A very strong technical buy signal has also been given in the weekly chart for Bitcoin now with a very clear and solid Bullish 'Hammer' signal in the weekly candlestick chart for Bitcoin (BTC/USD) and after the last week now.

When such very clear and important candlestick signals appear in weekly charts, and around very significant technical support levels that Bitcoin (BTC/USD) is now around.

Then it is a very clear signal that we can face a strong rise for Bitcoin (BTC/USD) in the future now.

We may well see a similarly strong rise for Bitcoin (BTC/USD) now in the next 1-2 years, and as we saw back in 2017/2018 (cf. weekly chart here).

The overall technical picture is now very positive for Bitcoin (BTC/USD) and signals that if there is a break above the USD 74,000.00 level soon, then there may well be another such strong rise for Bitcoin (BTC/USD) and that could lead the price up to between $1-2 million within only the next 1-2 years.

The overall technical picture for Bitcoin (BTC/USD) now indicates that a break above the all-important technical resistance level around USD 74,000 may now be imminent.

As mentioned here, a strong technical buy signal was triggered in the weekly candlestick from a significant 'Hammer' signal this past week.