I see a chance of starting above 83825 euros, not until then. The MACD is holding up beautifully above zero on the seven-month timeframe, while the RSI is trying to close a cross above 50. This is positive. The smaller EMAs (8,13,21) still need to settle down, after which the bull run can begin. It will take about 3 weeks for this to happen, if we get confirmation on all other timeframes. What is confusing is that on the monthly timeframe, although the MACD is positive, the RSI does not follow it. Two cases are possible: the RSI closes the monthly timeframe cross in May-July, at the same time the MACD cross also occurs on the seven-month timeframe, or the MACD also crosses downwards on the seven-month timeframe, which brings the MACD below zero on the daily timeframe, so a longer sideways movement and decline are possible. Positive changes on the daily timeframe promote the events on the weekly and monthly timeframes. It also shows a very positive picture on a weekly timeframe, in the coming weeks it will become clear whether we will see a false breakout with a rise of a few thousand euros, or the beginning of the next bull season. If BTCUSDT makes the rsi cross on a monthly timeframe, this could happen as early as May, it could trigger an even more positive mood in both BTCEUR and the crypto market. In any case, what I see is very positive.
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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.