In short. The trendline from the start of BTC on the monthly has only been broken once in March 2020. Correct me if I am wrong. This is a strong resistance in itself and also a major psychological barrier.
Longs are outweighing short for the moment as the 'smart money' prepare to long the market as the market remains fearful.
The Price vs Money flow needs to get below the price in red But as the Trend Exhaustion is moving up and nearing the top red zone I remain skeptical that the market has reached the bottom. If we do see a break in the trendline we might just wick down to $21193.75 if I compare it to March 2020.
Apologies for the upside down measurement. :-) Ignore the %. Just an indication.
Longs are outweighing short for the moment as the 'smart money' prepare to long the market as the market remains fearful.
The Price vs Money flow needs to get below the price in red But as the Trend Exhaustion is moving up and nearing the top red zone I remain skeptical that the market has reached the bottom. If we do see a break in the trendline we might just wick down to $21193.75 if I compare it to March 2020.
Apologies for the upside down measurement. :-) Ignore the %. Just an indication.
