Bitcoin to the Moon?

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Happy start to the week, all quiet and as per last week's technical analysis.
The descending triangle broke upwards, straight to the 46.6K level, it overcame it and we are now testing the 50-51 thousand level.
Here it will be key how the price interacts at this level or resistance, since

  1. If we don't make it (this is the second time), we will go back to the 42K, but
  2. If, on the other hand, we do, the next stop will be 64 thousand (all-time high).
    Sorry to disappoint but this week the odds of following the upside (64k) are lower than the odds of getting back to 42-40k.
    Because we are far away from the weekly average of 21 periods and by the theory of large numbers, the trend is back to the average, second causal, the volume of transactions is not considerable (for the moment, Charles Daw theory, volume accompanies the trend), therefore although the long-term trend is still up, in the short term and this week we will remain in our now familiar and boring range 51-40 thousand. of course they are only probabilities we can also be wrong.

Indicators used: Support and resistance, 21-week weekly moving average, Charles Daw's theory, Theory of large numbers.



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We must be very attentive to the new 52-53k levels since if we break it there is a possible rally at the 56-58k levels. We are close to knowing if ETFs will be accepted in the USA and everything points to 75% that this will be the case. Even so, you always have to be always alert, 42k is a huge resistance demanded by bears.

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