#Bitcoin Weekly
Normally, After a long Climb, a Doji candle rings of Change and a RED one tells us BEARS are in Town.
The image below Image here shows you one very similar to the one we just had, from April 2018 and PA rose after it.
Will that happen again ?
The Odds are against it BUT if the ETF buyers continue demand, then we could well see a rise , yes.
However, Bearish sign prevail.
PA Hit the 3.236 Fib line, a classic line of Rejection
We have an overbought Weekly MACD, though it could go higher.
RSI is falling but has not fully reached overbought, room to move higher.
MVRV and Z Score are alongside each other and begun falling. This happened in August 2020 and they both began rising 4 weeks later, with the Z Score above the MVRV - BULLISH
There is no guarantee that will happen again but there are various patterns repeating themselves across many charts and indicators that point towards a repeat but on a larger scale.
BUT as I have said many times, Crypto is in a WAR with Trad Fi and while ETF have been accepted into the TradFi world, the battles are not over and we could face headwinds this week as the FED meets once again to influence World financial markets.
It is VERY important to rememnber, the FEDERAL RESERVE is a Group of Bankers and their prime objective is the health of the $.
Mr Powell talks on 20th
This could get even more volitile.
Normally, After a long Climb, a Doji candle rings of Change and a RED one tells us BEARS are in Town.
The image below Image here shows you one very similar to the one we just had, from April 2018 and PA rose after it.
The Odds are against it BUT if the ETF buyers continue demand, then we could well see a rise , yes.
However, Bearish sign prevail.
PA Hit the 3.236 Fib line, a classic line of Rejection
RSI is falling but has not fully reached overbought, room to move higher.
MVRV and Z Score are alongside each other and begun falling. This happened in August 2020 and they both began rising 4 weeks later, with the Z Score above the MVRV - BULLISH
There is no guarantee that will happen again but there are various patterns repeating themselves across many charts and indicators that point towards a repeat but on a larger scale.
BUT as I have said many times, Crypto is in a WAR with Trad Fi and while ETF have been accepted into the TradFi world, the battles are not over and we could face headwinds this week as the FED meets once again to influence World financial markets.
It is VERY important to rememnber, the FEDERAL RESERVE is a Group of Bankers and their prime objective is the health of the $.
Mr Powell talks on 20th
This could get even more volitile.