A tale of two conflicting trends. Which one will win?
Bitcoin is coming to an intersection of a long term up trend and a short term down trend.
Which one will win? The current short term downtrend indicates Bitcoin may fall to $29,000 and test again.
Or it could pick up the long term trend and move higher.
Which one will win? The current short term downtrend indicates Bitcoin may fall to $29,000 and test again.
Or it could pick up the long term trend and move higher.
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So far it looks like Bitcoin BTC/USD is headed down following the short term trend. However these trends are easily broken by whales and can reverse fast.
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Bitcoin trying to work it's way back into the long term uptrend.
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Looks like my original battle has turned into a massive bull flag.
4 hour MACD still trending low. Started to gain steam but appearing to start to pull back a little. Maybe it will reach very low in the next 16 hours and return with a pop.