BITCOIN: CANDLES SPEAK: 08.04.2021

Technically, today BTC made a Bullish Engulfing. However, yesterday it completed a 5-day very strong bearish continuation candle and, if it meant a reversal, I would be looking for a much stronger Engulfing and on a much higher volume.

Having this in mind, I am waiting for tomorrow.

  1. If BTC closes tomorrow with a strong green candle above 59500, I would be expecting a new All Time High in the nearest future.
  2. If BTC makes a red candle, there would be a good perspective for the continued decline.

My targets stand: 48000-38000.

I hope by Saturday’s (weekly) closure we would have a decision made.

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