BTC BITCOIN WEEKLY CHART ANALYSIS
it s really scary how powerfull a 4 year old trendline is. btc rejected at the trendline as expected and all indicators are toppy. sorry for not sharing this set-up earlier. i sold everything at 9k$. volume now declining
BTC dominance going down, could ignite an alts season party...
this upmove from the low 3k's was the first impulsive move after the long bear market.
NOW:
if we are really in a BULL MARKET, BTC has to BOUNCE off of the 20weekly MA as it always did in the past when btc was bullish.
Strong reasons for a bounce in the mid 6k'ish area:
-6k'ish was a long lasting support prior to the final breakdown.
-20MA will be in the 6k'ish area in a few weeks
- fibonacci levels 0.382 and 0.5 are in the 6k'ish
- bullish cross of 20ma and 50ma should happen in the mentioned fibo area.
conclusion: so if btc only wicks down the 20ma, wait. green candle close touching and staying above, very bullish.
for a perfect entry, look at the lower time frame charts when the time has come.
BUT if we have a weekly candle close below 20ma... DANGER
THIS IS NOT FINANCIAL ADVISE!
BTC dominance going down, could ignite an alts season party...
this upmove from the low 3k's was the first impulsive move after the long bear market.
NOW:
if we are really in a BULL MARKET, BTC has to BOUNCE off of the 20weekly MA as it always did in the past when btc was bullish.
Strong reasons for a bounce in the mid 6k'ish area:
-6k'ish was a long lasting support prior to the final breakdown.
-20MA will be in the 6k'ish area in a few weeks
- fibonacci levels 0.382 and 0.5 are in the 6k'ish
- bullish cross of 20ma and 50ma should happen in the mentioned fibo area.
conclusion: so if btc only wicks down the 20ma, wait. green candle close touching and staying above, very bullish.
for a perfect entry, look at the lower time frame charts when the time has come.
BUT if we have a weekly candle close below 20ma... DANGER
THIS IS NOT FINANCIAL ADVISE!
Feragatname
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