We are seeing some pretty lethargic price movement with Bitcoin. It made a move to the upside early this morning, but came up short when faced against the 100 MA. That paired with consistently lower highs and a coiling in price, we are most likely due for a big move here. I give it a 60/40 chance to move to the downside, but there is potential for a rebound to the upside.
Not much going on for Bitcoin, so not much to talk about. But, stay tuned for a BIG move in either direction.
I am targeting $1,800 for the next low if it comes.
Getting ready to fill up my bags. lol.
I'll link a post showing my long term outlook on Bitcoin. Still waiting for the weekly 100 and 200 MA to cross and another oversold condition in the weekly RSI.
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We've broken up out of this wedge against my suspicions. The large wick rejecting at 4k does not look promising. I will become bullish if we push past 4k