The chart iis bullish, and the 200sma, is a resistance, as I have taught you people about this, that consolidation under a resistance, in a bullish trend is bullish.. so high chances that this breaks out, but consolidation here doesnt mean it wont come down, the consolidation is actually happening here to make sure there are enough orders, and momentum available in the range below of 94500-92500 for this to break above the 200sma currently sitting at 97400 and the range high of 99k-100k.. That will happen in a single swing, which means that price will come back to this retest zone, and then will burst out of above 100k... tho the burst part is subjective to whether or not we get some positive catalyst from the sentiment side aka the news on the way and innauguration.
Has the lower low gates been closed? completely? no.. almost? yes.
THIS WHOLE WEEK CAN BE SIDEWAYS FOR BTC, but for alts, it depends what dominance will do.. BTC is likely to go sideways tho, if the CPI news impacted too much, ONLY in that case we might see the range break today or tomorrow, else, btc is not moving out of this range till the next tuesday, POST INNAUGURATION.
Has the lower low gates been closed? completely? no.. almost? yes.
THIS WHOLE WEEK CAN BE SIDEWAYS FOR BTC, but for alts, it depends what dominance will do.. BTC is likely to go sideways tho, if the CPI news impacted too much, ONLY in that case we might see the range break today or tomorrow, else, btc is not moving out of this range till the next tuesday, POST INNAUGURATION.
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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.