BTC is ready to break. Lets talk ideas for large bull run or another bear push. The 3 hour BTC chart is pushing a smaller and smaller Apex (I,m sure you have seen many charts showing that now). Not only the price point but the MACD is now at 0, the RSI is almost dead center at 50, and volume is trending downward (yesterday was the lowest volume close in the last 3 months). History has repeated itself many times now to comfortably say these signs are massive indicators of a push/downfall coming.
I usually stick the 3hr charft and 1day chart to swing trades (medium to long term trades). In addition to the 3hr chart screaming indicators, the 1day chart is resting on the 55EMA as well. I am waiting for a break of 8900 for my short position and a break of 9300 for my long position.
Lets hear price points and other indicators, for or against this analysis.
I usually stick the 3hr charft and 1day chart to swing trades (medium to long term trades). In addition to the 3hr chart screaming indicators, the 1day chart is resting on the 55EMA as well. I am waiting for a break of 8900 for my short position and a break of 9300 for my long position.
Lets hear price points and other indicators, for or against this analysis.
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And boom! We broke our wedge. However I don't believe bulls are free yet. I took profit at our resistance zone. A indicator I look for is volume. Volume has picked up a little but not enough to support a bull run.
www.tradingview.com/chart/MPmPRAC0/
www.tradingview.com/chart/MPmPRAC0/