Bulls look to be close to starting some positive momentum on the 4HR Macd but curious to see if/when that happens if we follow the trend of getting rejected on our downward resistance line I have drawn out on the MACD. Bitcoin really needs to break $12,130 as we can really starting gaining bullish momentum then but till then I expect Coin accumulation/consolidation in the $11,400-$12,000 range.I 100% believe this is a good thing if you want Bitcoin/Crypto to go on a multi year bullrun without insanely large drawn out corrections because we went straight up without any times of accumulation/consolidation cough cough 2017....
Comment:
Disregard the green line on the MACD as that was used only on the 1hr to gage the tops and this analysis emphasis is on the 4hr so the red descending line is only important line to look at, Thank You!