BTC Possible Climb up the Bollinger Bands??!
Bitcoin has rallied pretty well the last few days after heading sideways for some time. We notice price action has pushed up towards the top of the bollinger bands, this could be 2 things, we could see a big climb up the top of the BB or we could see a fakeout sort of like what we saw at the top left of the FIB retracement. I personally think we could see a mini run up to the 0.3 FIB and then get rejected most likely, i doubt we would see a big fakeout as we haven't run up that much compared to times before, IMO we are seeing wyckoff accumulation pattern playing out or starting too, thats where i think we will see a rejection around the 0.3 FIB. The RSI is coming down towards the 50. point i think we could see a little bounce off the midline and then most likely fall back down if we reject of the 0.3 FIB. The MACD looks pretty damn good, we are seeing great separation on the MA's pushing higher and no signs of slowing down! Not financial advice just my opinion!
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.