I'm a bear.
I don't trust hopeium news from everywhere.
But BTC shows quite a strong bull run during these couple of months.
But it has not made any meaningful retracement or retest for the next bounce up.
Stoch RSI shows one of the longest & highest staying at the peak. As you know it means correction is near.
Even though I'm a bear, It's hard to imagine that we are going to 2K or even lower. But some sound retracement is needed to enter the new bull market.
BTC need to enter back to the historical uptrend channel(Blue bold).
BTC need to keep its price over the previous falling wedge's support(RED line)
BTC need to cool down its Stoch RSI
Or else, all these good signals including 200MA, 7 green soldier, falling wedge's support & the break out the yearly down trend turns to be the another reckt dead cat bounce.
As a Bear, I do really welcome the market to the moon. But we don't need to hurry. Keep calm & keep watching it.
Good day.
I don't trust hopeium news from everywhere.
But BTC shows quite a strong bull run during these couple of months.
But it has not made any meaningful retracement or retest for the next bounce up.
Stoch RSI shows one of the longest & highest staying at the peak. As you know it means correction is near.
Even though I'm a bear, It's hard to imagine that we are going to 2K or even lower. But some sound retracement is needed to enter the new bull market.
BTC need to enter back to the historical uptrend channel(Blue bold).
BTC need to keep its price over the previous falling wedge's support(RED line)
BTC need to cool down its Stoch RSI
Or else, all these good signals including 200MA, 7 green soldier, falling wedge's support & the break out the yearly down trend turns to be the another reckt dead cat bounce.
As a Bear, I do really welcome the market to the moon. But we don't need to hurry. Keep calm & keep watching it.
Good day.
BTC needs to reach at least 6K for the trend reversal.
BTC is moving up to the higher zone only with slight daily correction.
Anyway Ascending broadening wedge is one of the possible bearish scenario.