Bitcoin has been following the same flow sequence since Jan 6 , every 6th of the months Feb, Mar ,Apr ,May , and following this Sequence it predicts that June should have an upwards momentum , but not until the decending channel from 6th of May ends on 6th of June.
Now in the last week of the decending Channel it points that we might hit $6300 before and upwards momentum.
Now in the last week of the decending Channel it points that we might hit $6300 before and upwards momentum.
Comment:
BTC broke out of the falling channel on 2 June
Though not a convincing break, it attempted to get back into the falling channel a couple of times
seems the sells are getting exhausted, this breakout might indicate the bulls accumulating above the channel for a major breakout above $8000 , a raging bull can get to $8240 before cooling off for a bit.
This doesn't have to 100% correct.
BTC broke out of the falling channel on 2 June
Though not a convincing break, it attempted to get back into the falling channel a couple of times
seems the sells are getting exhausted, this breakout might indicate the bulls accumulating above the channel for a major breakout above $8000 , a raging bull can get to $8240 before cooling off for a bit.
This doesn't have to 100% correct.
Comment:
The price kept in between this rising channel so far
RSI pointing upwards and has remained about the 45 mark
price is still below the 50MA
As far as it remains in the channel we are heading up.
The price kept in between this rising channel so far
RSI pointing upwards and has remained about the 45 mark
price is still below the 50MA
As far as it remains in the channel we are heading up.
Bitcoin has been following the same flow sequence since Jan 6, in everyday 6th of the months Feb, Mar, Apr, May.
Following this Sequence, June should likely have an upwards momentum, but not until the descending channel from 6-May ends.
On the descending channel from 6-May, every time the prices hits the upside of the channel, it is followed by a high selling volume, the destination points to end at $6300.
The decreasing buy volume and the price not staying above 50MA, we might be heading for this price.
If $7300 and $7000 breaks this will be the likely scenario as these are the supports keeping BTC up and the bulls confident.
Now in the last week of the descending Channel, it points that we might hit $6300 before and upwards momentum in June.
Like and comment, if you have other ideas or if this was helpful
Disclaimer
It's not financial advice, just my opinion.