@BOMBERuss 2 September 2021 more from that month

The price of bitcoin is back at $ 50,000, and until either the support at $ 30,000 is broken down, or a new historical maximum is set, the direction of the market will not be as discernible. The weekly LMACD has also recently become bullish, but comparisons with previous bull markets are not so obvious. In any case, there is more similarity with the 2013 cycle compared to 2017, when the indicator never fell below the zero line after moving above it. The bitcoin price movement has now returned momentum above the zero line and is currently intersecting with the bullish sentiment. The parabolic curve supports the price movement in all the examples above and below. Also on the chart below, Ichimoku shows that during the past bearish phases, the Bitcoin price movement was cut through by a steep and thin cloud, while today the price movement is significantly higher than the cloud on weekly timeframes. Another bullish impulse will cause another sharp rise in the cloud, which the cryptocurrency can later cut through to start the next bearish cycle. But, judging by the indicator, this is probably still many weeks away. However, according to Ichimoku, not everything is so rosy. Bitcoin is currently above the baseline (Kijun-Sen) and the conversion line (Tenken-Sen), but these two lines still intersect with a bearish character. A bullish cross, driven by a different impulse, can help. The Bollinger bands on the weekly timeframes also hint that another bullish impulse may appear soon. Prior to the previous impulses, the lower bands curved upwards, and then expanded in both directions when the price passed the average SMA, and then rose along the upper band to local highs. Another jump up the bands after the third major bullish impulse may be the last trip to the last peak of the bull market. Based on where Bitcoin has broken down to the bear market bottoms, to both major local highs since reaching the bottom, we have a potential target where the fifth wave could end. According to the Elliott wave theory, the second and fourth waves alternate in length and strength, and the third wave is usually the longest, strongest and easiest to recognize. The fifth wave is usually about the same length in strength and duration as the first wave, and also exactly coincides with the previous pullbacks in the middle of the cycle. To be precise, the cryptocurrency can grow by about 325% or higher from the lower limit of about $ 30,000 and bring the maximum of this cycle to $ 125,000 - $ 150,000 per BTC. The fifth waves can expand and correspond to the wavelength of three or even exceed it, so indeed any result is possible with an asset with such a large application potential. #CryptoTrading