Bitcoin Weekly Chart
Proceed with caution!
I see a lot of bullish sentiment starting to emerge which already signs of warning. In addition we are given some clear clues that prices might decline in the coming weeks.
Analysis:
- Price has been increasing slowly while volume is dropping.
- Price is at strong resistance.
- Stochastic RSI is at the same level as when Bitcoin was at $20.000 and looks ready to crossover bearish.
Also most of the Alts that have been doing well seem to be at strong resistance, with this all colliding I'm expecting a pull back.
I see a lot of bullish sentiment starting to emerge which already signs of warning. In addition we are given some clear clues that prices might decline in the coming weeks.
Analysis:
- Price has been increasing slowly while volume is dropping.
- Price is at strong resistance.
- Stochastic RSI is at the same level as when Bitcoin was at $20.000 and looks ready to crossover bearish.
Also most of the Alts that have been doing well seem to be at strong resistance, with this all colliding I'm expecting a pull back.
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