The Most Bullish BTC Chart Ever (Alternative Theory)
So I posted a bearish chart, here I am posting a bullish chart. As a trader you must look at both outlooks and decide accordingly. While the long to short ration looks really bad right now, there is an argument to be made as we go up longs will close and people will short.
Note on the chart, the levels we are at, are absolutely historic. We have not been this low on indicators for a very very long time, and this could be a signal for a strong bull run to come, which will test the ATH or even break it. Every single long term indicator is flat, and once the weekly MACD is brought lower we should see a nice "spring".
Another thing to note here is that we have seen a very strong rejection at our previous bottom. While there is a chance to revisit to confirm the bottom, there is definitely a demand zone around the 5-6k level.
My recommendation is still to color between the lines and trade the swings. BTC is a traders dream due to its volatility and that is one thing that will certainly not go away anytime soon.
Note on the chart, the levels we are at, are absolutely historic. We have not been this low on indicators for a very very long time, and this could be a signal for a strong bull run to come, which will test the ATH or even break it. Every single long term indicator is flat, and once the weekly MACD is brought lower we should see a nice "spring".
Another thing to note here is that we have seen a very strong rejection at our previous bottom. While there is a chance to revisit to confirm the bottom, there is definitely a demand zone around the 5-6k level.
My recommendation is still to color between the lines and trade the swings. BTC is a traders dream due to its volatility and that is one thing that will certainly not go away anytime soon.
Comment:
bulls ftw!!!!!! Is this the start of 25k?
Comment:
4 hr is now turning really bullish. We have a 50 and 200 MA cross coming up, which is usually a signal that a bull run is incoming. It can however still be invalidated. Cloud is bullish and price is consistently closing above it.
Comment:
