Decided to make a change up here and bring you a video from time to time as suddenly crypto may be emerging from Winter into Spring!
Did have a few more details to show but quite a challenge to fit it all in 20 mins - got most of it in though 😸.
Enjoy!
Not advice.
Did have a few more details to show but quite a challenge to fit it all in 20 mins - got most of it in though 😸.
Enjoy!
Not advice.
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US10Y
Last week bounced off the 200 day moving average printing a Spinning Top doji followed by a bullish momentum candle both showing buy pressure coming in, to somewhat print a bullish Morning Star candle formation.
So there is a reasonable chance this will continue to bounce next week and if that happens then BTC may react and pull back.
Its also worth noting the danger here that this is potentially another choppy 3 wave correction printing which has happened before and was followed by another leg up. As I said in the video another wave up to push passed the Fibonacci band and beyond the top would likely terminate any rally in crypto and stocks.
So BTC chart looks very good but US10Y is not at all confirmed to the downside. For a prolonged bullish phase BTC will likely need US10Y to at least cool off and ideally fall, but the crux is that BTC can continue to be making moves up while US10Y remains unconfirmed and that is where the risk is. If US10Y does begin to collapse then I will see this as another green flag for crypto.
All this said I am bullish crypto, but I'll be keeping a close eye on potential party pooping charts.
We'll see what happens next week 👍🏻.