Bitcoin should keep running up with this ascending triangle!
In my last post i showed you some fundamental reasons why Bitcoin was looking extremely bullish in the week chart and this week Bitcoin broke the log downtrend that was dominating the market since the last hard correction. Now we have positivity in the market and a very bullish scenario!
Let me give you some TA bullish things to look into :
1) Extreme bullish weekly chart (Extreme oversold RSI, StochRSI and MACD reversing after reaching the bottom)
2) 4hrs chart looking good with bullish indicators with a nice oversold STOCH RSI and a nice bullish divergence in RSI and DMI.
3) 30 mins chart is showing us a nice ascending triangle which gives us even more confidence in this log downtrend breakout.
Bearish points:
1)There is a rising wedge in 4 hrs chart. But, we all know that Bitcoin likes to break rising wedges haha
2) Overbought STOCH RSI in 1 day chart.
These 2 are the only 2 things that support bears now and i must say they are weak comparred to the bullish points.
So i am bull now and i think you all should be too!
Let me give you some TA bullish things to look into :
1) Extreme bullish weekly chart (Extreme oversold RSI, StochRSI and MACD reversing after reaching the bottom)
2) 4hrs chart looking good with bullish indicators with a nice oversold STOCH RSI and a nice bullish divergence in RSI and DMI.
3) 30 mins chart is showing us a nice ascending triangle which gives us even more confidence in this log downtrend breakout.
Bearish points:
1)There is a rising wedge in 4 hrs chart. But, we all know that Bitcoin likes to break rising wedges haha
2) Overbought STOCH RSI in 1 day chart.
These 2 are the only 2 things that support bears now and i must say they are weak comparred to the bullish points.
So i am bull now and i think you all should be too!
Note
Thanks for the support and like in this technical analyse ! Love you all dudes!Note
Update BTC ascending triangle. It is more clear now.
Note
Well well well . Guess who was right again?Trade closed: target reached
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t.me/thedude0ne
Dude chat:
t.me/dudearmy
Dude Twitter :
Twitter.com/thedude0ne
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.
Dude channel:
t.me/thedude0ne
Dude chat:
t.me/dudearmy
Dude Twitter :
Twitter.com/thedude0ne
t.me/thedude0ne
Dude chat:
t.me/dudearmy
Dude Twitter :
Twitter.com/thedude0ne
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.