BitcoinShort
ATCryptoScan - the issue with the BTCUSD rally...
Overall, and fundamentally, Bullish on Crypto.
However, few things are red flagging...
A surprise sudden rally that appears to have ended yesterday with a long upper tail to close the daily candle in very bad shape. This candle itself shows the selling pressure, above the previous day down candlestick that is pretty much a Bearish Engulfing.
The recent reversal represents a double top (perhaps?), albeit there is a higher high; but for Crypto I would tend to disregard this due to volatile nature of the asset anyways. Price action also broke out of a decision box (purple) and broke back in again, typically expect to extrude the other (lower) side.
Meanwhile, the RoVD has tapered below zero although still green.
So, perhaps the projected path is still intact and BTCUSD is moving somewhat to expectations...
So aiming for Feb @75K...
However, few things are red flagging...
A surprise sudden rally that appears to have ended yesterday with a long upper tail to close the daily candle in very bad shape. This candle itself shows the selling pressure, above the previous day down candlestick that is pretty much a Bearish Engulfing.
The recent reversal represents a double top (perhaps?), albeit there is a higher high; but for Crypto I would tend to disregard this due to volatile nature of the asset anyways. Price action also broke out of a decision box (purple) and broke back in again, typically expect to extrude the other (lower) side.
Meanwhile, the RoVD has tapered below zero although still green.
So, perhaps the projected path is still intact and BTCUSD is moving somewhat to expectations...
So aiming for Feb @75K...
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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.