As anticipated Bitcoin respected the golden trend line and the theory for Bitcoin to tag 5k has been put on hold.
As you can see we have a bullish divergence in the MACD indicator, almost confirming market structure W.
Our oscillator is stupidly oversold and almost everytime this has happened we have seen Bitcoin turn right back around.
Bitcoin also has a hole in the VP and we tagged the 78.6 RLZ fib level.
The volume doesn't give me much confidence in the bulls, but every indicator I see shows the bulls are driving the bus here.
As you can see we have a bullish divergence in the MACD indicator, almost confirming market structure W.
Our oscillator is stupidly oversold and almost everytime this has happened we have seen Bitcoin turn right back around.
Bitcoin also has a hole in the VP and we tagged the 78.6 RLZ fib level.
The volume doesn't give me much confidence in the bulls, but every indicator I see shows the bulls are driving the bus here.