#BTC has shown amazing strength since last week and printing 2nd consistent Weekly candle. This may be the reversal week that may show whether #BTC will continue the long-term bullish trend , or will dump again to make a new low much lower than the July 2021 low.
The crucial point here is is the weekly MA50, which will most probably be tested by the end of this week. so far the price wasn't accepted by bears and didn't let the price to close a weekly candle above it, for almost 3 months. If #BTC break above the weekly MA50 then it will be a obvious long call.
Another important point, is the Weekly RSI , which is forming a same pattern that was previously observed in the bottom of Dec 18 - Jan 19, Nov19 - Dec19 and May 21 - July 21, and everytime breakout came with the MACD making a Bullish Crossover.
Currently #BTC is very near to MACD bullish Crossover, while the RSI is on HH and its just getting ready to break to the upside. Once #BTC completes consolidation/bottoming structure and breakout the Resistance which is just below the 46k mark and this is exactly where the 1W MA50 currently is. Can BTC Breakout to the upside and go above 50k again ?
The crucial point here is is the weekly MA50, which will most probably be tested by the end of this week. so far the price wasn't accepted by bears and didn't let the price to close a weekly candle above it, for almost 3 months. If #BTC break above the weekly MA50 then it will be a obvious long call.
Another important point, is the Weekly RSI , which is forming a same pattern that was previously observed in the bottom of Dec 18 - Jan 19, Nov19 - Dec19 and May 21 - July 21, and everytime breakout came with the MACD making a Bullish Crossover.
Currently #BTC is very near to MACD bullish Crossover, while the RSI is on HH and its just getting ready to break to the upside. Once #BTC completes consolidation/bottoming structure and breakout the Resistance which is just below the 46k mark and this is exactly where the 1W MA50 currently is. Can BTC Breakout to the upside and go above 50k again ?
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#BTC Update
#BTC Closed Weekly candle Above MA50 and at the same time Weekly MACD made Bullish cross over 🚀
50K coming as BTC Cleared 46k Resistance in style, Good Times Ahead
#BTC Update
#BTC Closed Weekly candle Above MA50 and at the same time Weekly MACD made Bullish cross over 🚀
50K coming as BTC Cleared 46k Resistance in style, Good Times Ahead