Hello friends.
About BTC, I wrote on July 2 (see related ideas below) about the possibility of the price being traded on a bullish channel. I made a later warning about the possibility of a breakout of the channel, which actually occurred on July 3.
Today, July 4, BTC continues to be traded with prices well above the uptrend channel.
Observe MACD: the slow line is still above the fast line, but the fast line is going up while the slow line points down. The meeting of the two may occur soon but, for me, an encounter does not necessarily mean the end of the price correction movement.
Returning to the BTC chart, note that the EMA 50 remains near the bottom of the channel, and on the resistance zone between 9.0 and 9.3k.
What to observe next days:
1) If the price continues to rise, there may be new tests of 12.9k and 13.8k levels. Attention to volume and closing prices.
2) If the price falls, we should see if the EMA 50 will act as resistance. There should also be attention to the volume. In my opinion, If EMA 50 acts as resistance, it is a strong signal of BTC bullish market.
One final note: on April 11 I published a chart with no text (see: related ideas below). Note, however, how the overall look of the April chart looks a lot like the July 2 chart (and also today's chart). For me this an example of FRACTAL.
About BTC, I wrote on July 2 (see related ideas below) about the possibility of the price being traded on a bullish channel. I made a later warning about the possibility of a breakout of the channel, which actually occurred on July 3.
Today, July 4, BTC continues to be traded with prices well above the uptrend channel.
Observe MACD: the slow line is still above the fast line, but the fast line is going up while the slow line points down. The meeting of the two may occur soon but, for me, an encounter does not necessarily mean the end of the price correction movement.
Returning to the BTC chart, note that the EMA 50 remains near the bottom of the channel, and on the resistance zone between 9.0 and 9.3k.
What to observe next days:
1) If the price continues to rise, there may be new tests of 12.9k and 13.8k levels. Attention to volume and closing prices.
2) If the price falls, we should see if the EMA 50 will act as resistance. There should also be attention to the volume. In my opinion, If EMA 50 acts as resistance, it is a strong signal of BTC bullish market.
One final note: on April 11 I published a chart with no text (see: related ideas below). Note, however, how the overall look of the April chart looks a lot like the July 2 chart (and also today's chart). For me this an example of FRACTAL.
