Bitcoin has hit a temporary bottom as per my indicators
Updated
CCI Index, RSI, MACD and price action collectively signaling that we've hit a local bottom here in the market on Bitcoin monthly. Additionally, we've now tagged the 200EMA + 200MA weekly in the past few weeks, another bottom signal that has historically led to a bounce, even if temporarily.
CCI + RSI have historically hit this key level the 44 level and bounced off + MACD has now had multiple months of expansion on the bearish cross where the bands widen far apart + histogram dives deep negative. Again - I understand that the macro back drop is so bad, inflation is terrible, Fed will likely hike 75 bps soon, etc.
But just simply explaining that our technical indicators have now hit key levels we've been watching for months.
CCI + RSI have historically hit this key level the 44 level and bounced off + MACD has now had multiple months of expansion on the bearish cross where the bands widen far apart + histogram dives deep negative. Again - I understand that the macro back drop is so bad, inflation is terrible, Fed will likely hike 75 bps soon, etc.
But just simply explaining that our technical indicators have now hit key levels we've been watching for months.
Note
200EMA + 200MA weekly in the past few weeks, another bottom signal that has historically led to a bounce, even if temporarily.
Note
On a quarterly perspective you can see how and why BTC can possibly retest
13K
Note
Closed longs here into 21k but now I'm still thinking we follow this path down
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