BTC Correction Nearly Over
A BTC close above nearby $66,500 signals a move to new highs.
As I write, it is now 10:01 AM on Thursday 16 May 2024 in New York. At 8:00PM the BTC closing price (on Coinbase) will be known and shown.
A close above $66,500 will be a buy signal. That does not guarantee that the market will not make a quick dip down to the area of strong support from $53,000 down to $49,000. However, before today’s rally we were also only about two days away from another Boredom Buy Signal. So those signals plus the many other tailwinds that are brewing, will most likely further support a big rally up to and through new highs which will then gain new altitude to $125,000 or more before the next correction of greater than 10%.
That is all for now . . .
Buckle up and enjoy the ride!
All the best,
Garry
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