GemeloTejedor

GemeloTejedor

Since last update (7/25/21), BTC received a strong bullish news catalyst in the form of Amazon announcing they would begin accepting Bitcoins as a payment method. Though later denied by Amazon, the report none the less provided enough of a catalyst to push the price past the 50ma on the daily chart with rising volume. This should mark the end of the downtrend for...

GemeloTejedor

Bitcoin broke out of Descending Triangle pattern on Daily Chart indicating Bullish sentiment is rising, but didn't do it with rising volume for confirmation of trade entry. Absent a viral catalyst, expecting a retest of the descending triangle's resistance to confirm it's now support, which is good for a better entry. If BTC bounces off triangle successfully, next...

GemeloTejedor

Strong Bullish Divergence on the daily chart for BTC . MACD and ROC indicators are both making higher lows indicating strong bullish momentum. BTC is highly reactive to the 50ma, as shown by the circled bounces and rejection points. 50ma trendline turned from support to resistance and is running concurrent with resistance of descending triangle formation formed...