When you look at the more zoomed out chart, you could draw a trend line beginning after the previous bear market.
The purple line shows a possible longterm scenario and definitely supports the idea that we will go up higher can the near future.
Nevertheless, BTC has strayed a little bit too far from this trend line, the 100MA and 200MA. Therefore, I think we need te pull back one more time. After that we can get entangled with this purple trend line and then build some momentum to go to higher heights.
For now the MACD shows a bearish sign (death cross) and if you compare it with previous signals you can see a massive move to the downside, followed by a strong move upwards.
The purple line shows a possible longterm scenario and definitely supports the idea that we will go up higher can the near future.
Nevertheless, BTC has strayed a little bit too far from this trend line, the 100MA and 200MA. Therefore, I think we need te pull back one more time. After that we can get entangled with this purple trend line and then build some momentum to go to higher heights.
For now the MACD shows a bearish sign (death cross) and if you compare it with previous signals you can see a massive move to the downside, followed by a strong move upwards.