Today, we are looking at the 3D chart of bitcoin and the MACD.
Since 2022 (and even before but not on the chart), you can see how incredibly strong buy signals the 3D bitcoin MACD bullish crossover have been. Every time, we've had strong rallies that followed after.
For the moment, we are far from a bullish cross and both MACD lines are strongly trending downwards, so following that strategy, you should stay away for the moment.
Usually what happens is that, as I described in my previous post, we get a consolidation period during which the MACD slowly flattens until it eventually makes a bullish cross at the end of the consolidation period which would indicate a new rally. Exactly as it happened around mid-July 2021.
Also observe the strong diagonal resistance that BTC has not be able to break (AND close above on the 3D TF) since 9th of November.
Finally observe that, the last time BTC was below the 3D 200EMA was during April 2020 (start of Pandemic) . So bearish!
In terms of timeline, if the $30k support level holds, we would break from it latest mid-March and if we go down to $19k-24k support, we would break from it latest early June!
What are we looking to buy bitcoin?
It's better to be conservative in these situations. So to buy, we would be looking for on of the two following events:
1. Wait for a new clear uptrend to start. I'd mostly wait for the break of the descending diagonal with a close above it on the 3D TF!
2. Wait for the price to get below $30k. As soon as it happens, I'd wait for a bullish RSI divergence on the 4H. Levels of interest: $28k, $24.5k, $22k.
If BTC does go below $30k, that would be a once in a lifetime opportunity for all of us. Just buy and don't touch it until a new ATH.
Since 2022 (and even before but not on the chart), you can see how incredibly strong buy signals the 3D bitcoin MACD bullish crossover have been. Every time, we've had strong rallies that followed after.
For the moment, we are far from a bullish cross and both MACD lines are strongly trending downwards, so following that strategy, you should stay away for the moment.
Usually what happens is that, as I described in my previous post, we get a consolidation period during which the MACD slowly flattens until it eventually makes a bullish cross at the end of the consolidation period which would indicate a new rally. Exactly as it happened around mid-July 2021.
Also observe the strong diagonal resistance that BTC has not be able to break (AND close above on the 3D TF) since 9th of November.
Finally observe that, the last time BTC was below the 3D 200EMA was during April 2020 (start of Pandemic) . So bearish!
In terms of timeline, if the $30k support level holds, we would break from it latest mid-March and if we go down to $19k-24k support, we would break from it latest early June!
What are we looking to buy bitcoin?
It's better to be conservative in these situations. So to buy, we would be looking for on of the two following events:
1. Wait for a new clear uptrend to start. I'd mostly wait for the break of the descending diagonal with a close above it on the 3D TF!
2. Wait for the price to get below $30k. As soon as it happens, I'd wait for a bullish RSI divergence on the 4H. Levels of interest: $28k, $24.5k, $22k.
If BTC does go below $30k, that would be a once in a lifetime opportunity for all of us. Just buy and don't touch it until a new ATH.
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