BTC Log Chart w/ Layered Curved Bands
Bitcoin on the Log Chart w/ Layered Curved Bands, EMA's, and Stoch RSI on Weekly. Currently trading under crossover of EMA 9 under EMA 100 historically signaling move down to lower curved bands in Bear Market. A test/bounce on the EMA 265 has occurred but, lower dotted trend line (Support) has yet to be hit. The dotted upper trend (Resistance) and lower trend (Support) come to an apex mid 2025. Perhaps a nice move to the upside after a break above dotted curved resistance line leading back up to a higher band if BTC keeps it's course/projection. Bands: Green - Buy Zone, Blue - Profit Taking, Red - Heavy Sell Zone, longterm outlook. Historically Bitcoin respects EMA 9 and EMA 100 crossovers signaling a BEAR or BULL market. Considering current economic outlook and the Fed planning on continuing to raise rates, possible recession, and other global issues, I see continued price action in the buy zone to the end of year with a possible visit to lower dotted support. Watching out for price to break past down sloping trend line then followed by the EMA 9 to cross back above EMA 100 for the potential start to the next Bull Run. Also, confluence with Stoch RSI has been a good trend reversal signal when bottomed/near bottomed out. Time to build!
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