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zAngus
Aug 27, 2023 12:38 AM

Bitcoin still stalled out. 

BitcoinCRYPTO

Description

Bought a bunch of Bitcoin when it dropped previously to 16k and have been looking to top up but I've tried a few entries now over the last few weeks on what I thought might be a bottom opportunity here only to get stopped out again on weakness.

I like the look of where the RSI is, and it looks to be a reasonably good support area, but the markets continue to be great humblers :)

Will keep trying :)

Comment

Big pump on a federal appeals court ruled in favor of Grayscale's bid to convert its spot bitcoin trust (GBTC) into an ETF. Nice MACD cross as well can be a good sign of a bullish direction. Need to wait and see how long this move holds. Already starting to pullback.

Comments
pejman_zwin
Thanks for sharing, useful.
Tradersweekly
It seems that anytime there is news about Bitcoin ETF, the market finds an excuse to rally. Thank you for the idea, Zangus.
zAngus
@Tradersweekly, haha. 100%
Bravetotrade
Lately had a nice bounce from 25K in June. Buyers won't give up that easily and may try for a push to 28500. Keep trying ;)
day0
watch the weekly RSI too
day0
Weekly RSI at base:
day0
The 1-hour RSI reflects a possible 2 or 3 day decline also. Maybe it will have a tiny increase on 2023-08-31.
TransitMan
Agreed thanks for your thoughts and posts Sir!
TheGrove
Nice chart
FX_Professor
Maybe time to un-stall and have a surprisingly good second 1/2 of September?
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