Is the Bitcoin correction over?

Is the Bitcoin correction over?


July 2021


Alex Cole

Is Bitcoin ready to move out of its correction that saw it drop from $60,000 to $30,000?
The GoNoGo Chart below shows that enough of the trend conditions have turned positive to flag a new "Go" trend.  We saw the amber "Go Fish" bars for a few sessions that often act as a bridge between trends, and now we are into the second aqua "Go" bar.  We saw this trend change preceded by a break above the zero line for the GoNoGo Oscillator which suggested momentum had turned against the "NoGo" trend. We'll look now to see if price can set a new high above the psychological level of $40,000.