Previous price history as shown that returns occur accroding to the trend line that is formed.
Waiting for Friday to confirm if the bearish Hammer Pin bar will be formed or not.
Just calling it how I see it.
Ascending Triangle with Bitcoin. Will the measured move play out?
Pros -
1) Weak US Market
2) SPY 21.50 which is high for growth when we are headed for a recession.
3) Hedge for inflation
Cons -
1) Below 55 on the RSI
2) Weak positive momentum on the MACD
3) Bearish hammer pin is forming
Pros:
1) Higher Low with price and a lower lower on the osilator.
2) Support Above the 20 MA
3) Support Above the 0.618
Cons:
1) Resistance at the 200 MA - $169.95
2) Strong negative momentum on the RSI after the crossover
Not financial Advice
