Bitcoin is essentially trading sideways. This is mostly because the 1W MA200 offers a strong support and every time the price approaches it or tests it, buying pressure starts.
MACD gives a quite clear Bullish/ Bearish Signal pattern and as seen on the chart, BTC is currently on the bearish phase. Bearish but of course still within the consolidation range supported by the 1W MA200 but also contained under 4250 at the same time.
Based on that pattern I expect the price to break below the 1D MA50, hold the 1W MA200 and then rise again towards 4100.
STOCH also gives the same dip buying signal inside this channel.
BTCUSD will be consolidating for some time but this consolidation is a great opportunity to buy low and sell high.
Check out how this consolidation will prepare the next bull market in the coming months:
MACD gives a quite clear Bullish/ Bearish Signal pattern and as seen on the chart, BTC is currently on the bearish phase. Bearish but of course still within the consolidation range supported by the 1W MA200 but also contained under 4250 at the same time.
Based on that pattern I expect the price to break below the 1D MA50, hold the 1W MA200 and then rise again towards 4100.
STOCH also gives the same dip buying signal inside this channel.
BTCUSD will be consolidating for some time but this consolidation is a great opportunity to buy low and sell high.
Check out how this consolidation will prepare the next bull market in the coming months:
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