BTC - Stochastics hasn't bottomed out yet on BTC Monthly
The Stochastics hasn't bottomed out yet on BTC Monthly:
Why ?:
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Because when the Stochastic bottoms out we see the green indicator line cross over the red indicator line indicating movement back upwards. An example of this is marked on the Stochastic at Points "A" and "B"
The Current stochastic at point "C" shows BTC is only just breaking the bottom of the pattern and the Green and Red indicators on the Stochastic have yet to flip bullishly .
Whats this mean ?
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This leads me to believe that in month or two BTC will eventually reach the bottom of the upwards moving channel at around the 13 to 12k area.
Interestingly the graph shows the MA150 is conveniently situated at this area and will act as additional support .
Why ?:
=========
Because when the Stochastic bottoms out we see the green indicator line cross over the red indicator line indicating movement back upwards. An example of this is marked on the Stochastic at Points "A" and "B"
The Current stochastic at point "C" shows BTC is only just breaking the bottom of the pattern and the Green and Red indicators on the Stochastic have yet to flip bullishly .
Whats this mean ?
==============
This leads me to believe that in month or two BTC will eventually reach the bottom of the upwards moving channel at around the 13 to 12k area.
Interestingly the graph shows the MA150 is conveniently situated at this area and will act as additional support .