Thread by @RevoltCap

#bitcoin update May 24th

1/ Alright, looking good so far, long position from 32.5K is doing well and I believe there's a high probability BTC will first move towards 48K vs. making another move lower

#Bitcoin $BTC

https://twitter.com/RevoltCap/status/1396515193098838019

2/ Lots of stuff still happening in the background, the China situation seems to be more real than previous FUD but there's a good probability that's already priced in and it looks like China is (potentially) buying the dip

https://twitter.com/KryptoniteTrade/status/1396666301590933504?s=20

#Bitcoin $BTC

3/ With regard to the China situation, @DoveyWan is hosting a live stream with a few people that know more about this situation at 10am EST today, could be worth checking out

#Bitcoin $BTC

4/ How does the chart look?

- Large 4hr bull div has been confirmed
- Even a bull div on the daily in oversold territory is building, will be confirmed if we close today with an uptick in RSI

#Bitcoin $BTC

5/ Bull divs on the daily can take long to build and can take longer to play out, but this is starting to look promising for at least a good relief rally towards 48-53K in the coming weeks

#Bitcoin $BTC

6/ After that things are getting more uncertain, I'm still leaning towards a longer consolidation period, could be 5 could be 10 months before a new ATH

I will be taking some risk off the table between 48-53K

#Bitcoin $BTC

7/ I'm happy to be wrong and it would be great if this turns out to be the mother of all shakeouts and BTC prints a new ATH within 2 months

However, I give it a low probability.

#Bitcoin $BTC

8/ BUT, all in all, I believe somewhere the coming 12 months ATH will be breached and the 2nd half of this bull run will take off

Be patient, have good risk management and before you'll know it, it's party time again

#Bitcoin $BTC