Hey what's up everyone, I wanted to send out my thoughts on BTC. It would of been nice to see it stay above the inflection zone but no technical damage has been done. This could actually set up a beautiful spring back test of spring as long as it can pivot here and successfully make a higher low. There is also daily hidden bullish divergence on both the RSI and MACD currently in development. It would be pretty legendary to get a spring back test of spring at a major inflection zone with hidden divergence on the third higher low after a higher high, the rule of three is a real thing during major tops and bottoms. Market participants want to see extra confirmation in situations like this so we could be seeing the bottom being confirmed before a major mark up.
I also wanted to mention I saw a graph that said there has only been one other time in history when the percentage of supply that hadn't moved in over a year was at this level and it was in September of 2020 right before the most historical run in crypto history. Apparently people are holding on to their Bitcoin so if that's true it's only a matter of time before all the remaining supply gets absorbed at these levels and the new wave can begin. Keep an eye on our trade setups, I will send out an update today on the ones I am wanting to take if it plays out.
Ps. I included a picture of the 3 day chart as well because I love how it's back testing the 200 ma for the third time. When you put all these coinciding variables together the argument looks pretty compelling. Much Love Just.IN BINANCE:BTCUSDT
Hi there, well done on sharing your first idea with the community. We hope it was a fun experience. If you need any help, feel free to reach out. 🙌🏽 @Nico.Muselle for the TradingView mods