Bitcoin Update
Hey hey,
Bitcoin finally managed to reach the top of the channel again and finally seems to have broken out of it.
The weekly chart provides a better view since we've now had 2 weekly candlesticks close above the upper channel line.
It's clear that price is now consolidating just below the 70k psychological barrier and it seems to be only a matter of time before we're slashing through and continue towards the ATH level.
I have really started to like looking at the BTC ETF flow data to combine it with the technical view and again it adds up to a positive scenario.
Net inflows have increased to a new ATH and have grown by 20% since my last update exactly a month ago in our community.
The coming week will evolve around the elections and I don't expect a significant move until the election outome is clear.
Overall, my picture is bullish but it comes down to the elections this 5th of nov.
Bitcoin finally managed to reach the top of the channel again and finally seems to have broken out of it.
The weekly chart provides a better view since we've now had 2 weekly candlesticks close above the upper channel line.
It's clear that price is now consolidating just below the 70k psychological barrier and it seems to be only a matter of time before we're slashing through and continue towards the ATH level.
I have really started to like looking at the BTC ETF flow data to combine it with the technical view and again it adds up to a positive scenario.
Net inflows have increased to a new ATH and have grown by 20% since my last update exactly a month ago in our community.
The coming week will evolve around the elections and I don't expect a significant move until the election outome is clear.
Overall, my picture is bullish but it comes down to the elections this 5th of nov.
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