Why Bull Market Is Not Over For Bitcoin BTC?
2025-02-10
Category: None

Hello, Skyrexians!

Recently we have see the drop on  BINANCE:BTCUSDT  to $91k. We can't understand why it caused so much fear and negative in crypto communities. This is still next to ATH but fear and greed index dropped into the fear territory. This is great sign for bull run continuation and now we will explain you this statement with the technical analysis.

Let's take a look at the weekly time frame. Before December we had a great probability
that anticipated growth from $50k to $100k could be the final wave 5 of the bear market, but price action has broken the potential Awesome Oscillator's bearish divergence. It gives us the confidence that this move was just the wave 1 in wave 3. It means that the most impulsive growth ahead. The minimal target is 1.61 Fibonacci at $140k, maximal at $200k. We believe more in $200k, but watch out our updates because targets can be recalculated.

Best regards,
Skyrexio Team

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