At this stage btc is looking to break out of the descending triangle, it has bounced off the main trend line several times confirming both volume and support and is likely to continue to fill the triangle.
The 1 and 2 day stoch rsi is still pointing down with the 1d still a little left to go, so I expect to have a little less steam in price movement before the volume kicks in.
MACD on the 12h, 1 and 2d are still negative, with the 6/3h crossing upwards confirming the shorter term upswing within the triangle.
Squeeze indicator is on and narrowing still so i expect this will continue for a few more days at least. Decision time for the market is likely to fall around the 20-23 of Jan at this stage allowing for some ranging first.
The market has only just swung alts upwards slightly so I expect there will be more bag holders waiting for better gains off their prime entries before exiting or taking profits, this lines up with the rough projected timeframes of the btc movement and when profit taking starts this will kick off the btc breakout heading up to test at least the 88% fib or potentially straight to the 20K mark.
Interested in opinions and expectations.
The 1 and 2 day stoch rsi is still pointing down with the 1d still a little left to go, so I expect to have a little less steam in price movement before the volume kicks in.
MACD on the 12h, 1 and 2d are still negative, with the 6/3h crossing upwards confirming the shorter term upswing within the triangle.
Squeeze indicator is on and narrowing still so i expect this will continue for a few more days at least. Decision time for the market is likely to fall around the 20-23 of Jan at this stage allowing for some ranging first.
The market has only just swung alts upwards slightly so I expect there will be more bag holders waiting for better gains off their prime entries before exiting or taking profits, this lines up with the rough projected timeframes of the btc movement and when profit taking starts this will kick off the btc breakout heading up to test at least the 88% fib or potentially straight to the 20K mark.
Interested in opinions and expectations.