BTCUSD Breaking Bearish Trendline
Updated
Perspective: We've been in a primary bearish trend since late 2021. That trend appears to be breaking now. But that doesn't necessarily mean it's an instant bull market. There could be significant sideways chop for a while.
**Weekly**
Massive divergence on weekly MACD playing out.
Textbook histogram islands have developed. Bullish PA might push this over the top.
**Daily**
BTC Breaking Bearish Trendline on Daily for first time since late last year.
Awaiting candle close confirmation at 8:00PM EST
**4h**
Whether we judge from the candle body or the wick, we're breaking through local resistance.
**Weekly**
Massive divergence on weekly MACD playing out.
Textbook histogram islands have developed. Bullish PA might push this over the top.
**Daily**
BTC Breaking Bearish Trendline on Daily for first time since late last year.
Awaiting candle close confirmation at 8:00PM EST
**4h**
Whether we judge from the candle body or the wick, we're breaking through local resistance.
Note
for the short term,
bearish edge on the hourly MACD
Note
*10/7/22 Update*We're back testing the trendline.
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