Bitcoin reaching the end of the pennant , it is a rising pennant which indicates possible bearosh break which would make sense given the recent gains. We need to test previous highs for support. One thing that must be kept in mind is we are back into Whale season, manipulation and heartbreak are the real tools of the trade in Bitcoin world. Be ready to throw all indicators, and advice out the window to watch big bags make coordinated moves that defy logic. I'm long, but all indications are for some downward action
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Broken on the downside, We should be clear for support and then up up up
Broken on the downside, We should be clear for support and then up up up
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The upward channel momentum is too strong to continue, we should see ourselves in between our recent high resistance level and our low point based on historical levels that has become support
The upward channel momentum is too strong to continue, we should see ourselves in between our recent high resistance level and our low point based on historical levels that has become support
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I believe we will test the resistance and get rejected and support will fail and we will test our previous support level before moving higher , Bitcoin wants to feed on fomo money that just jumped into the market, this is what I believe will happen ,
Short Term , Im short, but only once we get rejected off the resistance at around 64k , if we flip that as support Ill consider myself Long . Im currently watching with trades ready to reflect both situations
I believe we will test the resistance and get rejected and support will fail and we will test our previous support level before moving higher , Bitcoin wants to feed on fomo money that just jumped into the market, this is what I believe will happen ,
Short Term , Im short, but only once we get rejected off the resistance at around 64k , if we flip that as support Ill consider myself Long . Im currently watching with trades ready to reflect both situations
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RSI divergence , Looks like we are gearing up for positive momentum today. I was convinced we would see a pull back, might still want to keep it in mind, but I'm long on the day today and have closed out my short with a very small profit
Lets keep this in perspective, We are outside of regular channels and when we pull back we can see that this momentum is above the regular gains, Watch where it goes after breaking the pennant. Many new investors are flooding in wanting to hop on the train and that speculation might be what it takes to drive us through consolidation and push us to new ATH