Something interesting is BTC has been moving in an upwards moving channel since 2017.
The current bottom of the upwards moving channel is at around the 13k area.
why is this interesting ?
=====================
Because if we switch to the monthly the MA100 lines up with the bottom of the channel at 13k
Which is a bit of a coincidence if you ask me .
If BTC has intentions of moving up then the first thing we will need to see is a close above the weekly MA200 at 23000
The current bottom of the upwards moving channel is at around the 13k area.
why is this interesting ?
=====================
Because if we switch to the monthly the MA100 lines up with the bottom of the channel at 13k
Which is a bit of a coincidence if you ask me .
If BTC has intentions of moving up then the first thing we will need to see is a close above the weekly MA200 at 23000
Note
Another thing is from June 2022 the FED has started its Quantitative tightening . The amount of financial assets the FEDS will be unloading will rise to 95 Billion a month in September, 2022.This is a lot of liquidity that is going to be pulled from the economy and id expect Crypto will take a beating as access to easy liquidity dwindles .
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.