BTC update on daily and weekly timeframe

BTC wants to go to overbought again on weekly timeframe. It would be ultra weird if not.

Weekly stoch RSI has not been on overbought since a very long time, probably the longest time in BTC history.
It needs to be overbought again on weekly, so that it can prepare for the next dump, which hopefully will be the final one.

At least there is a high probability it will be.

On the daily timeframe I see it dragging on still for a bit, until upward momentum is established.

Sort long ration is already turning again towards shorts, slowly, but still noticeable.

Well, I still think we'll see 5000-5300 in the next weeks, probably until the end of february.
Then creeping sideways and the final leg down.

Bình luận:

I wish I could update more or make new charts more often, but the price action of BTC is currently so boring, that I have trouble staying awake in front of the PC, hehe.
BTC is postponing this upmove as long as it can. Probably because the longs are still too high, and it's waiting for the people to start shorting more.
Anyways, I am still convinced of the upmove before the next downmove. We have to be patient and drink a lot of coffee during the next weeks :)

Bình luận:

Woa, a bit of price movement, finally. So, it seems that finally the upmove, that we've been waiting for since weeks, may start to unfold.

Shorts are going up again, which is a good sign.

Still on target for 5000 range within the next weeks, then finally the next dump wave, which will (most likely) yield the final low for this bearmarket.