I've done this TA in a different way to the usual trendlines, SR zones, chart patterns etc. I'm going to rely on indicator patterns. Going to ignore all the bear flags.
1. Every time BTC on the weekly touches the 2 ATR line below the average (white line), there is reversion to the average. Mean reversion (white circles). We are at that stage now.
2. Every time the faster weekly MACd turns green, there is a few weeks of bullish behaviour. It seems its about to turn green.
3. Every time CCI goes below 100 twice during the same trend, it reverses. At that stage again now.
4. A weekly pin bar is forming this week on what is probably the most important SR zone (this is the only SR zone i've included as its a major one).
5. Bullish Volume is increasing.
I don't really care about the macro economic situation because logically who will sell BTC now at this price? If you sold above 30k, you've sold, but if you've held on this far down, I doubt there will be people willing to sell lower, they will probably just hodl until prices go up again.
Whatever the case, I do believe there will be a move up now to atleast 30k before we see any lower prices.
1. Every time BTC on the weekly touches the 2 ATR line below the average (white line), there is reversion to the average. Mean reversion (white circles). We are at that stage now.
2. Every time the faster weekly MACd turns green, there is a few weeks of bullish behaviour. It seems its about to turn green.
3. Every time CCI goes below 100 twice during the same trend, it reverses. At that stage again now.
4. A weekly pin bar is forming this week on what is probably the most important SR zone (this is the only SR zone i've included as its a major one).
5. Bullish Volume is increasing.
I don't really care about the macro economic situation because logically who will sell BTC now at this price? If you sold above 30k, you've sold, but if you've held on this far down, I doubt there will be people willing to sell lower, they will probably just hodl until prices go up again.
Whatever the case, I do believe there will be a move up now to atleast 30k before we see any lower prices.