Short-Term TA on BTC
Bollinger Bands:
We are in the low zone of the Bollinger Bands channel, close from the mid line.
MACD:
It looks bullish as the bottom is forming a W. Anyway, the volume is pretty low so it could reverse and form a M instead, let's keep aware about this.
Stochastic RSI:
It seems due to a short-term downturn which could lead to see the
25K CME gap filled on a wick (hopefully).
To summarize, the short-term action seems pretty unclear on the future way the BTC will take.
Over a longer term we can remain in this uptrend while we stay in the ascending channel.
We could see a wick (flash crash) to the25K area to fill the CME gap and wash last leveraged long positions before to come back in the channel.
This would be, IMHO, the best scenario to build a short term trend reversal and build the price to come back in the High area of the ascending channel (above 50K.
However, the more time we stay in the current area (below 40K), BTC is threaten to do a continuation bearish trend to target the 29/30K resistance.
Let see what the market has for us! As always DYOR (Do Your Own Research)
NFA (Not Financial Advice)
We are in the low zone of the Bollinger Bands channel, close from the mid line.
MACD:
It looks bullish as the bottom is forming a W. Anyway, the volume is pretty low so it could reverse and form a M instead, let's keep aware about this.
Stochastic RSI:
It seems due to a short-term downturn which could lead to see the
25K CME gap filled on a wick (hopefully).To summarize, the short-term action seems pretty unclear on the future way the BTC will take.
Over a longer term we can remain in this uptrend while we stay in the ascending channel.
We could see a wick (flash crash) to the
25K area to fill the CME gap and wash last leveraged long positions before to come back in the channel.This would be, IMHO, the best scenario to build a short term trend reversal and build the price to come back in the High area of the ascending channel (above 50K.
However, the more time we stay in the current area (below 40K), BTC is threaten to do a continuation bearish trend to target the 29/30K resistance.
Let see what the market has for us! As always DYOR (Do Your Own Research)
NFA (Not Financial Advice)
Related publications
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.