Quick update on the 1D time-frame. This is an important finding that shows Bitcoin repeating a process which last time we saw it (September 2020) it paved the way for the late 2020/ early 2021 Parabolic Rise.
As you see BTC has been recently consolidating roughly within the 1D MA50 (blue trend-line) and the 1D MA100 (green trend-line). At the same time the RSI is also trading sideways after a strong rebound right above the 30.000 level, while the LMACD is rising on a Bullish Cross after a rebound on the -0.03 level.
Last time those parameters took place all together was in September (and early October) 2020. BTC was again consolidating within the 1D MA50/ 1D MA100 zone, the RSI was also trading sideways while the LMACD was rising after a bounce on -0.03. The only difference is that now the RSI is still below its Lower Highs trend-line of January, while in September it had already crossed above it. Needless to say when that happens, it will be an extremely strong bullish break-out signal. But even now, it is more than obvious that this 1D MA50/100 consolidation is an accumulation process that is seen before major bullish break-outs, same as the October break-out.
So what do you think? Are you ready for a similar pump? Is this consolidation the accumulation process before the next launch? Feel free to share your work and let me know in the comments section!
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@hyipster, not compared to $, but drop compared to btc
Coinilicious44
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What you are describing is called divergence [feel free to look it up yourself] and an indikator cannot have a "support zone" since it is an indicator and not a chart. It just tells you that
it was bought twice before reachin the "oversold area".
Now MACD is a little different, cause here you have the long moving average [usually 26 period] aligne with each other which should make you think...
Note that the situation is different from 09/2020
Take care trader...
apsnt
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@Coinilicious44, I remember a trader called "MagicPoopCannon" who knew absolutely nothing about charting and was one of the most famous people around here because he was selling the mood.
Slinkman
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@apsnt, Whatever happened to that guy? I used to ignore his ideas even when they were the top ideas on TradingView. As the previous US president showed us, even the most arrogant and narcissists have armies of dung beetle-like people feasting on everything they drop.
apsnt
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@Binzaydan, I wish there was an ignore button on TradingView. I love this page and there's a ton of good, experienced traders - many of them are not the most popular unfortunately. They hide in the shadows, they are not here for the audience.
Totalfreedom1
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A bare minimum of 100 k and a max of 320 k or more by the end of 2021
lesa666
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Show weekly macd ... bearish crossover ... look left what happened when we had it ... big dumps always and trend change ... so this daily can end very soon ...
BTC is superbearish right now ... my ponit of view ...