Local #Bitcoin bottom looking over. Momentum is reliably upwards.
✅ LMACD closing in, 3rd white candle.
✅ SMA30 breached at ~$88K.
I expect in the coming weeks the price discussion will center on recovering ATH.
Discussion
Laser becoming a TA guru was not on my bingo card for 2025.
Disclosure: I never trade #Bitcoin.
I've developed a habit of keeping an eye on the weekly to never zoom in or care much about price.
Accidentally, it's given me a reasonably good medium term outlook.
Helps never to trade. I don't really have skin in the game. I don't care if I'm wrong on the medium, I only care that (A) I don't pay attention to the daily and (B) I'm right in the long term.
It's interesting today to watch the markets drop by 2% while bitcoin goes the opposite direction. Maybe people are finally figuring out that they only way to protect their money is to convert it to bitcoin.
I don't think #Bitcoin goes straight up from here. I think we grind upwords in a unsatisfying sideways like action for weeks or even low months before momentum goes parabolic again.
Or not. I don't really care.
Save #Bitcoin don't trade #Bitcoin.
What I'm more interested in re price (I don't trade #bitcoin either), is how people view it as a monetary asset. Price gives us a lot of signal about mindset.
Local #Bitcoin bottom concluded exactly when I called it 3 weeks ago.
✅ Exploded through the SMA30.
✅ LMACD on 5th white candle.
✅ LMACD 12 (parabola) testing 26.
At the point new ATH is all but certain; either we get a short term parabola started this week or reject around here and build up over May/June/July/Aug timeframe (would be a cute reverse HaS pattern). 📈
Pretty impressed with LMACD as an indicator. Seems to give a strong medium horizon outlook. 🤔
Disclaimer: I never trade bitcoin.
