Technical Analysis on Bitcoin! Possible Crazy Bull Run Start Again?

For last 7 days, most altcoins show a clear signal of starting next bull runs, such as wedge breakout, the large volume coming in, consolidating the bottom, etc.
But, what about Bitcoin? Let's look into it!

First of all, the Bitcoin dominance is getting retrace back to 42% from 45% high, and altcoins start to gain more dominance. As you know, many people expect that Bitcoin would not be number one cryptocurrency forever. Right now, Bitcoin is global currency in cryptomarket. Therefore, if Bitcoin price drops, the altcoins price also drops and vice versa. That's why the price of most altcoins is going up now, and it is very critical to keep your eyes on Bitcoin price.

[1 day chart]
This is my view for Bitcoin. 50 and 100 moving average is about to cross each other, which can be a bullish sign. The price of Bitcoin is a kind of getting resistance under the 200 moving average. Also, MACD indicator shows a trend of Bitcoin changes to bullish from bearish in short term. The best scenario I could imagine is that it goes through 200 moving average and makes bull flag around $9,500.

However, I found a very interesting pattern in Bitcoin chart in the past.


You know history is likely to happen again, but not always. This is just another perspective on Bitcoin on this little bullish market. As you see, the price of Bitcoin went through correction with a bull trap and then broke out the resistance line. I am not saying this is going to happen again but possibly can happen.

I do not do technical analysis on Bitcoin much because it usually doesn't follow standard technical analysis. But, here are some my views on Bitcoin right now. Hope we see another crazy bull run again soon 😁

And what do you think about current markets? Are you optimistic? Feel free to leave a comment below!