Bitcoin Daily, Something for the weekend Sir / Madame ?This will be the main chart and 3 indicators that could be telling us something.
Main chart is the Heiken Ashi. Each candle starts in the centre of the previous one and so we get rid of noise and get a good understanding of possible Trends.
And Right now, CALM is not the word ! Candles are getting smaller and smaller.
However, we do seem to be forming a bullish pennant with an Apex at the end of the month.
PA always reacts before the Apex.
Other things to note here is that we are now using the previous line of resistance as support. Look back to Dec 2024 to Feb 2025. It was this line that put as back down to 75K
We have tested this 4 times in a small way But not in a real Meaningful Way yet.
Do remain Cautious.......but that 2.518 Fib extension should hold us in place if we drop but there could be a much deeper drop.
But lets take this step by step as there are some Very Bullish signs to.
The ADX chart below shows us that Change is near.
Remember, ADX ( yellow ) NEVER shows trend direction, just trend strength. As you can see, it rarely drops much further below this point and does not spend to long here.
SO, current trend is Weak and a new trend is likely in the near future ( this could be tomorrow or in 3 weeks..near future is a wide window..but it is not 2 months or more)
The DI + ( orange ), positive Directional price Index, and the DI - ( red) , negative Directional price Index, are also low, showing no real price action.
This can happen for longer periods of time and it is impossible to say which will rise, However, as we can see, the price movements have not been huge and so to expect a sudden Massive Dive, as some are suggesting, is not really backed by anything.
But we should never say never. Be cautious
Accumulation / Distribution chart below
What is nice about this, is simply that Accumulation is still the MAJOR movement. The majority are still accumulating and so the idea that we maybe in a Bear market is almost Dismissed. People would not accumulate an asset that is about to Dive for a long eriod of time....Normally.
There has been distribution, as marked by the RED zones. This is heavier distribution and as you can see, this Stopped at the beginning of this month, having begun when we reached the high towards end of 2024.
So many thought that was cycle ATH
They have seen the error of their ways BUT, Again, remain Cautious till we see a bigger move higher.
And now my favorite, MACD
And for me, this is where we will see the decision being made. We are approaching the Neutral zone
Last time we bounced off this area was in October 2024 and we went from 70K to 109K
BUT remain cautious, we have every possibility that we may fall through the neutral zone for a while too....But we are in an area that could show us a time to move.
This is a LINEAR Bitcoin Daily chart
And those descending lines are FIB Circles and you can see how PA often runs along them.
You can also see how we are in a Pinch, a tight Squeeze right now ( arrow) with Horizontal line of support and the rejecting red 236 Fib circle.
That Apex is, again, at the end of the month.
So, to conclude, we are certainly heading towards a Move and possibly a new trend.
I like to think this will be Bullish but there are plenty f reasons for Caution.
I will remain with my Monthly charts that suggest June may be RED and that after than we will see more Green.
A Dip is possible and I have New Buy orders around 98K incase PA wicks down to them but there is NO guarantee this will happen...OR if it does, that it will stop there....
We just have to be prepared.
Stay safe
