Most day traders were caught off guard as BTC PA dipped today with no FA or TA warnings. But if we look at the charts, what do we see:
1) BTC Daily RSI Support is being retested at 50 RSI level
2) Ichimoku Signal Line at 58k is serving as a support.
3) Ichimoku Signal remains green on the daily.
4) 8W SMA is far below at 52k.
I'd say 58k should serve as a support for tonight. Next support would be the 8W SMA at 52k that is NOT very likely to be tested at this stage. Again, possible but not likely.
However, looking at the BTC.D chart, I think we might witness a down trend in the coming days where Alts start to take off gradually in general during that period we will see some Alts pumping all of a sudden like 1inch today and SHIB. I still do not believe the Alts market is due yet, but I will leave that for related charts in time.
1) BTC Daily RSI Support is being retested at 50 RSI level
2) Ichimoku Signal Line at 58k is serving as a support.
3) Ichimoku Signal remains green on the daily.
4) 8W SMA is far below at 52k.
I'd say 58k should serve as a support for tonight. Next support would be the 8W SMA at 52k that is NOT very likely to be tested at this stage. Again, possible but not likely.
However, looking at the BTC.D chart, I think we might witness a down trend in the coming days where Alts start to take off gradually in general during that period we will see some Alts pumping all of a sudden like 1inch today and SHIB. I still do not believe the Alts market is due yet, but I will leave that for related charts in time.
Note
This coming Sunday will mark a weekly candle close and a monthly candle close... it is going to be a candle not to be missed in this bull run. And nope, it ain't going to close in the $50Ks.
Unless you figure a way to make money while you sleep, you’ll work till you die.
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.
Unless you figure a way to make money while you sleep, you’ll work till you die.
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.