As long as we're in this range zone (or higher of course), we're bullish. Keep in mind going below that does not necessarily mean we are bearish. But we're simply in a consolidation zone forming like a Bullish flag
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We have bullish Divergence forming since about 20 December 2017
( Divergence between Price & MACD )
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The MACD support continues, no one could have predicted the bottom other than MACD
The problem is when you zoom out and look at the trend. The BTC is overly bearish. Netter just stand inn the sidelines and wait. Dont you think? Thanks
jasonwhite
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@Robertus, Thats why there is Bullish Divergence, because Bitcoin price is falling, while MACD is making higher lows. The supply is decreasing as time goes on.
Regarding BTC chart when zoomed out, we have a Bullish channel since early 2017, the support of this bullish channel is the green line in the chart. As you can see, whenever we touch it BTC just goes further up. Until we break this channel then we're still going upwards
Here is a more clear chart using Daily candlesticks
What we had during late 2017 was something called "Fad", and BTC is correcting itself down to the channel where I believe is its safe growth zone.
Robertus
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@jasonwhite, I agree, if you look it in months frame, I was referring that in day frames we are bearish until further notice. Thanks