Bitcoin GIANT Channel? $13,800=Rocket Fuel
Updated
Is Bitcoin just channeling? It would appear so on the monthly. My old friend Peter Brandt called me up and reiterated his bullish narrative a few days ago. BUT... I want to see $13,800 coupled with positive macro conditions, or completely decoupled before going FULL BULL.
We have a Green 4 on the TD Sequential, Green on Momentum Indicators, we are currently right at or around VWAP, ascending triangle on RSI, bullish weekly candle, MacD crossing back positive. Seems pretty interesting, lets watch the DOW for direction though as its a broadly weighted index with recent correlation. This is not financial advice.
We have a Green 4 on the TD Sequential, Green on Momentum Indicators, we are currently right at or around VWAP, ascending triangle on RSI, bullish weekly candle, MacD crossing back positive. Seems pretty interesting, lets watch the DOW for direction though as its a broadly weighted index with recent correlation. This is not financial advice.
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Please let me know your thoughts, Peter and everyone else.
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