This could be nothing, but according to proportions of the last bear market/descending triangle, it is worthwhile to note that what we just had was a "mini bullrun" or a precursor to our next run up for the halving. We formed a large descending triangle followed by a huge drop and consolidation, which is where we are right now... Nothing to be taken to seriously...
Things I'm looking closely at today:
1. StochRSI trending upwards... BULLISH
2. MACD div? BULLISH
3. BTC testing top trendline resistance.. if it breaks, BULLISH, if not we're heading back down. 10,040-10150 is going to be very important on the short term BTC, stay tuned...
NOT financial advice
BTC needs to close above the red resistance level and then it will become a support. Aroon indicator shows bears losing momentum, stochastic RSI in favor of the bulls, RSI neutral. Oh by the way, BITCOIN STILL ISN'T DEAD!!!!!
**Not financial advice :]
Alright let's get down to business and keep it SIMPLE. The bears have pushed down the price to the trendline around 5 or 6 times while the contrary is only 3 times for the bulls. The stochastic RSI had a small turn for the bulls but immediately broke towards the bears. The MACD and Aroon indicators are also in favor of the bears. In my opinion, BTC goes down and...
BTC showing an ascending triangle on the 4 hour. BTC's stochastic RSI getting ready for a big move within the next few days, the RSI is right on the overbought line as of right now, and the Aroon indicator is in favor of the bulls. The MACD on the 4 hour has BTC looking bearish, but only slightly. I expect consolidation around this level for another day or so and...
Alright so I am going to be honest, I have been into crypto since summer 2017 right when BTC started to make its nice run up to 20k. I have seen the ups and downs in the market, and while I by no means have substantial knowledge of TA, I do believe what I'm doing to be correct. Please correct me if I say something incorrect, otherwise I'll have no idea.
All of...
