Bitcoin Monthly | Please Explain $100,000, $140,000 & $165,000!

14 Apr 2021

This is the monthly chart for BTCUSD (Bitcoin) which shows the bulls in full control.

First, we use EMA10 as a gauge of bullish/bearish potential for any altcoin trading pair.

• Above EMA10 for us equals bullish.
  
• Below EMA10 for us equals bearish.
  

Right now, Bitcoin is trading safely and strongly above EMA10, keeping the potential towards the bulls.

The immediate resistance is set at $65,000 on this timeframe based on my Fibs.

We follow up with $80,000 and here we have $100,000 all the way up to $165,000+ as potential targets.

In general, the idea is that the market can always change... That's the charts are always changing and we can only prepare based on what is happening rather than act based on what we think will happen.

What is happening here is that Bitcoin continues higher and is aiming for more.

This chart here is pretty clear, we have been having strong bullish action but prices can continue to grow.

We do not see any downward pressure...
We are not testing any new support.

Instead, Bitcoin continues moving higher, we are now facing resistance again and as soon as the resistance is broken, the Bitcoin price continues its run.

How long will this go for?

I honestly don't know.
But as we break above $80,000, we are very likely to hit $100,000+

That would be great, wouldn't it?
Let me know in the comments section.

Thanks a lot for your support.

Namaste.