Hello traders,
The weekly candle has been very strong, if it closes this way which it might next week might get a massive pump to either get a 3rd validation touch on the downtrend which started April 14th, 2021 (ATH'S)
20 day moving average is around $45,000 as well.
At $29,700 I posted the bottom may be in, and the weekly candle was strong, we need to close above this descending triangle which will cause a pump.
Weekly stoch RSI has been in the oversold zone since March, so a massive short squeeze wouldn't surprise me.
This may not happen but we only have 2 validation points on the trend-line and $30,000 has held thus far, but if for some reason we head back down again it likely won't hold!
I still think the current ATH is the top, pi-cycle indicator confirmed that and was first time since 2017 ATH in December.
THIS IS NOT FINANCIAL ADVICE, JUST MY PERSONAL THOUGHTS. DO YOUR OWN RESEARCH.
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The weekly candle has been very strong, if it closes this way which it might next week might get a massive pump to either get a 3rd validation touch on the downtrend which started April 14th, 2021 (ATH'S)
20 day moving average is around $45,000 as well.
At $29,700 I posted the bottom may be in, and the weekly candle was strong, we need to close above this descending triangle which will cause a pump.
Weekly stoch RSI has been in the oversold zone since March, so a massive short squeeze wouldn't surprise me.
This may not happen but we only have 2 validation points on the trend-line and $30,000 has held thus far, but if for some reason we head back down again it likely won't hold!
I still think the current ATH is the top, pi-cycle indicator confirmed that and was first time since 2017 ATH in December.
THIS IS NOT FINANCIAL ADVICE, JUST MY PERSONAL THOUGHTS. DO YOUR OWN RESEARCH.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^