Bitcoins next 6 months outlook
Updated
Bitcoin is still clearly in the bear market and won't make it's initial big push out for 6 months most likely. This should be good news to you if you are stacker. The bears have a strong hold over price action, but as we can see on the RSI, the hold is weakening with bullish divergence forming in this underling indicator that simply determines "relative strength". If bitcoin maintains this divergence you can expect a very quick price pop up by the end of the month (seems likely) . The down trend resistance levels are color and thickness coded by strength. Each time any one is conquered, meaning a break above and stay above, our attention is then focused on the next one until all are broken and defeated.
Stronger to weaker
RED
ORANGE
GREEN
BLUE
Thanks for looking at my chart and leave a comment on what you think. My chart is educational analysis and is not to be taken as financial advice. We are all here to make money and limit our risk is the best way to do so. Contrary to the news, from what the chart is showing us... it's telling us that risk is low, the RSI has bottomed and showing signs of strength.
* Bear markets are buyers markets, Bull markets are sellers markets*
PS: The arrows are only examples
Once again... thanks,
WeAreSat0shi
Stay Blessed!
Stronger to weaker
RED
ORANGE
GREEN
BLUE
Thanks for looking at my chart and leave a comment on what you think. My chart is educational analysis and is not to be taken as financial advice. We are all here to make money and limit our risk is the best way to do so. Contrary to the news, from what the chart is showing us... it's telling us that risk is low, the RSI has bottomed and showing signs of strength.
* Bear markets are buyers markets, Bull markets are sellers markets*
PS: The arrows are only examples
Once again... thanks,
WeAreSat0shi
Stay Blessed!
Trade active
The Thicker red line has been very quietly penetrated. BTC actually broke through with some conviction but then quickly fell right back on top of it, this is not a bad thing as it remained above it. Next is the thinner orange line. Will January want to push above it???Note
Could BTC break through the orange line of resistance in February or by the end February ??Note
Note
Bitcoin has plowed through 3 of the four downward regression lines, Only the last one is left (BLUE) with 2 months remaining from the 6 Month outlook. It should break through the blue line within this time frame too. After that there is no denying Bitcoin is in a bull run. I expect a fairly big break through and then a retrace back to the blue line and to hold it at as support into the next move later in 2023 and 2024.Note
I expected a rejection at the green line but we didn't get it. Bitcoin is now approaching the final blue line of downward resistance. Once again I do expect resistance here and a possible rejection with an eventual follow through. Breaking and holding this blue line is very bullish.Note
BTC is battling the blue line (last downward trend line resistance). Holding above this line could lead to a fairly fast and big move. This candle closes in 3 days, it would need to close another 5 day candle after that for confirmation.Note
Bottom hunters are actually top buyers!Note
Push play and look at the zones doing their work.... NAILED IT!!Note
Push play... Bitcoin broke above the blue line again, just in time. Move expected to follow
tiktok.com/@wearesat0sh1
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