Bitcoin looking healthy with a likely breakout
Bitcoin has some very strong reasons why this could shoot up:
TA:
-DMI/ADX trend strength(bear trend) at all time lows. It never was this low, and when it was, trend strength would likely go up, and this time is the end of the bear trend. Likely strong bullish trend
-Stoch going up,(blue line on PTS) signaling beginning of uptrend
-CCI still in convergence with price and going up
BIG IF:
IF BITCOIN GOES ABOVE 144 EMA AT 270, WE WOULD SEE A BREAKOUT THAT CANCELS THE DOWNTREND FROM 500. Same for breaking 200 EMA.
Fundamentals are healthy, look at related weekly chart for more ideas.
TA:
-DMI/ADX trend strength(bear trend) at all time lows. It never was this low, and when it was, trend strength would likely go up, and this time is the end of the bear trend. Likely strong bullish trend
-Stoch going up,(blue line on PTS) signaling beginning of uptrend
-CCI still in convergence with price and going up
BIG IF:
IF BITCOIN GOES ABOVE 144 EMA AT 270, WE WOULD SEE A BREAKOUT THAT CANCELS THE DOWNTREND FROM 500. Same for breaking 200 EMA.
Fundamentals are healthy, look at related weekly chart for more ideas.
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.