BTC's Redemption and Accumulation Point
On the Daily Time Frame, We see a Lollipop Bullish Engulfing candle occur on the 18th and 19th of June on the 17k-19k support region and Also we see the just concluded daily candle ending up as a Doji.
My MACD oscillator line is currently crossed above my Signal EMA on the Market Strength Indicator. With this current inflow of strength to BTC, we will likely see BTC rise up to the 22k-23k region and after that, we've got another Higher-low Coming which would likely push BTC below the 17k region and if that happens, we've got our next critical support between the 12k-14k region.
The Best thing to do at this Point is to Engage DCA. Time in the market at this point is safer and more profitable to timing the Market.
My MACD oscillator line is currently crossed above my Signal EMA on the Market Strength Indicator. With this current inflow of strength to BTC, we will likely see BTC rise up to the 22k-23k region and after that, we've got another Higher-low Coming which would likely push BTC below the 17k region and if that happens, we've got our next critical support between the 12k-14k region.
The Best thing to do at this Point is to Engage DCA. Time in the market at this point is safer and more profitable to timing the Market.
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Related publications
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.