BTC / Bitcoin - Consensus of Indicator Analysis / Forecast
On this highly reliable weekly chart I have placed and added various indicators. My review of
them is on the chart. Solely from the perspective of my review and analysis and not at all
setting aside the idea of BTC to $250K in 2024, Bitcoin may be overbought with a high RSI
and MACD about to cross lines over a relatively thin histogram. Price is higher than the 3rd
VWAP band line 3 standard deviations above the mean of the anchored VWAP and the
mass index is above the threshold for it to fall to trigger a reversal Accordingly, I will not
add to my position and will hold what I have. Further, i will take a look at the NASDAQ
Cryptocurrency Index and if it appears to be similar to BTC which is the biggest market cap
within that index, I will not add to ETHUSD or any of the other "stable coins".
I am prepared to short BTC on a forex exchange with leverage once an established trend is
seen on a 60-180 minute chart with checking ADX and DI +.
them is on the chart. Solely from the perspective of my review and analysis and not at all
setting aside the idea of BTC to $250K in 2024, Bitcoin may be overbought with a high RSI
and MACD about to cross lines over a relatively thin histogram. Price is higher than the 3rd
VWAP band line 3 standard deviations above the mean of the anchored VWAP and the
mass index is above the threshold for it to fall to trigger a reversal Accordingly, I will not
add to my position and will hold what I have. Further, i will take a look at the NASDAQ
Cryptocurrency Index and if it appears to be similar to BTC which is the biggest market cap
within that index, I will not add to ETHUSD or any of the other "stable coins".
I am prepared to short BTC on a forex exchange with leverage once an established trend is
seen on a 60-180 minute chart with checking ADX and DI +.
Trade active:
SHORT BTCUSD on the reversal as per the idea
Comment:
Short Bitcoin now as per the idea above- volatility flipped to downward pressure on price and a selling volume spike black candle printed