👨🏼💻WHERE IS BITCOIN GOING?👨🏼💻Altcoins possibly up 🎢🎢🎢
Greetings fellow humans
Today we're looking at the market structure and price action of BITCOIN. I am seeing some sideways action from BTC over the coming days, you can see we are a little bit overbought on the RSI (1HR) I used a red circle to show this. . I am seeing bearish indicators on the longer time frames.
We are currently seeing btc work between the ranges of;
$37,000
$42,000 (expect that it could go to at least ($44,000)
Typically when we see btc reach the 41.5k it pushes onto 45k. However I personally don’t think that will happen in this instance. I believe we will see btc have a sharp pullback over the next 12-72 hours to the 37k area.
The US government has accidentally leaked its plans a day before it was set to make an official announcement. For the first time in US history, President Joe Biden was going to release an executive order on cryptocurrency and how it will be regulated in the US on March 9 local time (later tonight on Australian time).We’ve seen an increase of btc.d (dominance) over the last few hours. As that starts to find some support we will see a little bit of an increase in money flow into the altcoins.
Remember, nothing is guaranteed, control the controllables.
Mogues
Today we're looking at the market structure and price action of BITCOIN. I am seeing some sideways action from BTC over the coming days, you can see we are a little bit overbought on the RSI (1HR) I used a red circle to show this. . I am seeing bearish indicators on the longer time frames.
We are currently seeing btc work between the ranges of;
$37,000
$42,000 (expect that it could go to at least ($44,000)
Typically when we see btc reach the 41.5k it pushes onto 45k. However I personally don’t think that will happen in this instance. I believe we will see btc have a sharp pullback over the next 12-72 hours to the 37k area.
The US government has accidentally leaked its plans a day before it was set to make an official announcement. For the first time in US history, President Joe Biden was going to release an executive order on cryptocurrency and how it will be regulated in the US on March 9 local time (later tonight on Australian time).We’ve seen an increase of btc.d (dominance) over the last few hours. As that starts to find some support we will see a little bit of an increase in money flow into the altcoins.
Remember, nothing is guaranteed, control the controllables.
Mogues
Comment:
We were rejected at 42.5K - BTC did not have enough momentum to push through. Lets see how low we go here, I smell a BEAR TRAP