We are about to exceed 25,200 dollars, key in the price of Bitcoin.
Everything indicates that it is going to happen
We will see which indicators are important to watch and support range of the bull market.
It is key because it would indicate a change in trend to Bullish in the long term, we would break the previous bearish range.
The Bitcoin price would mark the start of a bullish range with a higher maximum than the previous one of 25,200.
%2012.55.47.png)
In the graph we see a downward range that bitcoin has broken weeks ago
We see that after reaching 17500, it reaches a higher maximum of 25200,
Then, continuing with its correction range, it reaches a lower price of 15,800 dollars.
%2013.04.20.png)
It breaks the bearish range and now the price is close to 24,000 dollars
It should break the 25200 confirming the trend change with a weekly candle that closes above this price.
%2013.12.17.png)
Key Monthly Candle
The monthly candle for January was bullish engulfing of the previous 6 months, that denotes strength in the price
%2013.14.16.png)
And it sets us a next objective, bullish in the price of 28,000 dollars.
If we analyze how far the price could go back, analyzing monthly candles, it would be around 20,000.
%2013.18.24.png)
Other analysts speak of 18,000 or even more, in a possible price correction for Bitcoin
A double bottom or prices below 18,000 for Bitcoin would be very risky because it would show weakness and lengthen the beginning of a bullish cycle.
Crypto Market Cap
If we analyze the graph today we see that the price remains above 1T dollars.
%2013.30.02.png)
As long as the crypto market remains above 1Q, it is indicating that Bitcoin has the possibility of continuing to rise
As Bitcoin's dominance recedes.
This is good for Bitcoin and the Alcoins market.
%2013.31.09.png)
It means that not only is there interest in buying Bitcoin in the long term, but investors are also building positions in Alcoins.