Hello 🐋
based on the chart, green candlesticks are become weaker and weaker and the price is in range zone and possibility for breakout of the parallel channel to the downside, and we can see 23k and 25k prices soon 📖
so
we need even more correction to the downside for long term view before huge gain ❌🧨
beside
range candlesticks to the upside and downside before...
I was just looking through the chart and noticed these few things.
The 200EMA ( Yellow) - Previously the longest below PA was 133 days in End 2019 till 1st April 2019
Currently, PA has been below the 200 for 238 days, over 100 days Longer.....A Sure sign of how havy that bear market was / IS
The 50 EMA ( RED) is another story - Previous longest below PA was 427...
#BTC Dominance: once the support trendline was lost.. Alt-season sparked.. however RSI low, Stochs low.. could see BTC dom bounce..
meaning ....
a) BTC dumps and Alts pump harder..
or
b) BTC pumps as Alts go sideways
Saying Bitcoiin is a microcap is an understatement. If I would ever even consider a position in such a small market cap with an iliquid market, a lot of things need to align. First, I would like to see a clean weekly close above the red line. Secondly, a consolidation period where we could buy a wick below the red line where price gets rejected. Finally, a...
