After 3 months post trend line break the market pauses before heading higher.
the red trend line is my guide toward ATH
The vertical lines are the marked halvings for bitcoin. We are in accumulation before the run higher!
I know we have a couple more days left to go in the quarter, but my eyes will be on this indication!!!
A close outside the upper band, something that has not happened since the circle marked on the chart, would be a huge signal that we could be just getting started on a run to ATH's!
Just another tool in the shed! Bollinger Bands!
The price dropped from the 9K highs to find support at the 61.8% Fibonacci retracement level around $7500.
The directional index lines did cross but on falling momentum. This is a picture of a bearish correction in an overall bullish market, so the support on the price chart should hold and so far it has bounced.
The RSI also dropped, but still remains well...
I am looking for a "filtered" break above the 61.8% level before I go long here. If no break I will seek out much lower support.
Filtered is 3 consecutive daily closes above the 61.8% Fib level or a daily close above .59! That will get me excited about $XRP. Otherwise zzzzz.
Thoughts? Happy trading!
Crossovers are statistically significant with only a few days left on the month.
Significant candle coming up at the end of the month to help forecast ATH test later this year.
I am buying dips into Fib levels! Not financial advice, just sharing my experience :)
I covered this chart in a video the other day to explain the internals of what was happening during the accumulation phases prior to the halving events. Go watch for more explanation!
The vertical lines are the halving points on this weekly $BTC chart.
The 55-EMA is a critical support line to watch in the coming weeks to months, and the 21-EMA about to cross...
We talked about this last night that the market was on the verge of hitting major sell stops... and BOOM!
The price went to the 61.8% level I was talking about and I bought more there.
I still think we are in the optimism portion of our journey on this leg!
Getting a correction is needed, but also a shallow retracement with a support hold at the 38.2% level is a sign for more highs ahead.
As the RSI drops back below the overbought condition line, selling interest continues. The last time this happened the 38.2% level held and after a period of consolidation the market kicked to new highs.
Internal indication looks...