Break of 56k= next target 58k

- Break upside 56k with SOS = Next target 58k
° Break upside 58k zone on a SOS = Next target 62k
° Danger point to look at = 53k zone
° Break under 43k on a Sow= Look for a sell and for the next target; 30k

Demand has been heavy and in power for so long that before seeing a considering drop, especially that I personally expect price to go back to 20 eventually, it would still need to be somehow absorbed and the heavy demand volume would likely have to go through a distribution cycle before making a drop. Now if we look at how price and volume moved toward each other since the beginning of the year 2021, it has not only been moving in beautiful harmony, but demand have shown being and remaining dominant since the start of it. Starting the year with strength, price broke upside the 30k zone on heavy demand volume for after making a retracement to 30k and making a major absorption of supply. February after started the first week pushing price all the way up on bullish momentum and heavy demand volume, to bring it to 58k. For after dropping on a important supply presence back to 42k where we saw a brutal stop of action during the week of the 22 February 2021. For again after seeing the price being push up on a considering pretty important demand volume presence and closing with bullish engulfing candles.

What do I expect next and why
>> I expect price to make another move upward at least to 62k to make another test, mainly because as I said at the beginning, demand has been in power for so long that price would have to go through a cycle of distribution before making any drop. We would need to see the demand decrease, which won't happens in one day unless an astonishing power emerging from supply and everybody go crazy and start selling it, and that would mean freaking a lot of people would have to do so. And even then it would take some time before dropping. So just for that, I expect surely another rise up to 62 k for sure and even maybe 70k-80k if demand remain in power and price break upside the 62k area on a SOS.

Gonna post another markup of it on smaller time-frame associated with a deep analysis of it with an update tomorrow. Follow me to stay on.


Fellow aliens traders, do yall have an opinion on this?