1) Weekly Dialy and 4hr, all RSI overbought.
2) At Weekly Resistance
3) Went up parabolic and I expect it needs to cool down before it makes any more upwards strong moves.
4) It is trading within a channel. So its time to touch the other side of the channel.
Risk Reward: 1 : 1:44
Good Luck =)
The next move of Bitcoin can be anyone from the green and red scenario... be prepared for both. Manage risk well on your position.
We can just move up and down in a wedge in the green scenario before the BAKKT launch. (Distribution) and then dump after/near Bakkt launch.
We can do a massive dump in a few days to 21 weekly EMA and shake out the week hands...
Moon soon! Lambo Soon!
Only to keep in mind...don't just sell the first rally!
Just like you hodl in the bear market lol ...have the patience to hodl to the top or potential top to make much profit!
Altcoin season will be quick(pumps) so don't just fall in love too much with your coin and so please do book profit.
Good Luck! :D
Bitcoin indeed has many bullish signals on different timeframe..so i wanted to see how bitcoin price movements happened on last bull market.
The violet is the 21 EMA and yellow is 10 SMA
With the study, we can found bitcoin go up with 10SMA as support and then correct to 21EMA and then we continue. This same price movement happened again and again in last bull...
S&P500 have steady riding for the last few years.
But now it has everything to make it POP!
1) Bonds yield going negative
2) Massive bearish divergence on Big time frame
3) Fed Rate cut
4) Few big companies starting to collapse
5) Ton of Debt!!!