Previously highlighted, the BTCUSD breakout rally occured.
Looking at the larger time frame, this rally is sandwiched stacked, and technicals are conducive of a surprise break above 10,000.
Note in the Weekly log chart that when MACD breaks above 0, and price is above the Weekly 55EMA, these are pivotal points that have been the start of large rallies. With the exception of early 2020, when the rally was disrupted by the emergence of the pandemic, the other two occasions since 2017 were robust bull rallies.
The current weekly candle is not done yet, and there is three days more to go. Worth a close watch on this attempt to break above 10,000 and if it sustains above the critical level of 9,900, it would be about time to break out into a massive bull run..
Looking at the larger time frame, this rally is sandwiched stacked, and technicals are conducive of a surprise break above 10,000.
Note in the Weekly log chart that when MACD breaks above 0, and price is above the Weekly 55EMA, these are pivotal points that have been the start of large rallies. With the exception of early 2020, when the rally was disrupted by the emergence of the pandemic, the other two occasions since 2017 were robust bull rallies.
The current weekly candle is not done yet, and there is three days more to go. Worth a close watch on this attempt to break above 10,000 and if it sustains above the critical level of 9,900, it would be about time to break out into a massive bull run..
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.