hey guys, in late November 2022 i had posted an idea about BTC making RSI bullish div on weekly time-frame. it looks like the DIVERGENCE is in play. i had taken entries lower according to that and and my BTC macro cycle analysis.. all the best
BTC first time touched 200 EMA on daily TF after April 22 at $44k around. if it breaks resistance of both horizontal and 200 EMA, a good bear market relief rally will be there. next resistances after breaking 21k are 25k, 28k and 30k.
BTC broke the descending triangle downward and tested the resistance which means if 15500 area wouldn't hold, BTC can further puke lower to around 12k to 13k.
BTC has made a descending triangle on Weekly TF and presently it's below it... until BTC won't reclaim 17500, it's bearish looking on higher TF and go lower to 14k or even 12k as the triangle break targets... just a thought.. i'm accumulating already and will DCA more if goes lower.
what's your thoughts on this?
DOT looking at the weekly chart of DOT...thinking how further low this shitcoin can go before move up haha... for long term HODLing, it's good price to add some DOT in your bags and forget till 2024-25.
here you can see a clear RSI bullish divergence on Weekly TF which is signaling weakness in bear trend and will reverse soon. IMO the bottom is here or just around the corner.
BTC broke the 4hr triangle downwards and now going down. next good support is around $35k. if holds it BTC will bounce, or will further go down to test 33k IMO.
