Bitcoin remains in bullish territory - my next trades
Let’s break down the current cycle indicators and what they mean for BTC:
1. 1-Day Cycle Indicator (Blue Line)
- This tracks Bitcoin’s short-term trend (1 week) and ranges from 20 (oversold) to 80 (overbought). It’s currently at 29, hinting at a potential bullish reversal for the week ahead. This could indicate an upswing in the short term if momentum follows through.
2. 3-Day Cycle Indicator (Violet Line)
- Great at forecasting the trend for the next 12–18 days, especially in a sideways market (like the last 6 months). With the indicator nearing 80, there’s room for some upside in this cycle, suggesting that BTC could see positive movement next week.
3. 1-Week Cycle Indicator (Red Line)
- Provides a broader view, indicating longer-term trend reversals (1–2 months). It’s currently at 93, placing it in overbought territory, which signals a potential for a larger trend reversal as we look further out. This could suggest a corrective phase may be on the horizon.
Summary: While short- and medium-term indicators suggest near-term gains, the high 1-week cycle reading hints that a longer-term pullback could follow soon.
1. 1-Day Cycle Indicator (Blue Line)
- This tracks Bitcoin’s short-term trend (1 week) and ranges from 20 (oversold) to 80 (overbought). It’s currently at 29, hinting at a potential bullish reversal for the week ahead. This could indicate an upswing in the short term if momentum follows through.
2. 3-Day Cycle Indicator (Violet Line)
- Great at forecasting the trend for the next 12–18 days, especially in a sideways market (like the last 6 months). With the indicator nearing 80, there’s room for some upside in this cycle, suggesting that BTC could see positive movement next week.
3. 1-Week Cycle Indicator (Red Line)
- Provides a broader view, indicating longer-term trend reversals (1–2 months). It’s currently at 93, placing it in overbought territory, which signals a potential for a larger trend reversal as we look further out. This could suggest a corrective phase may be on the horizon.
Summary: While short- and medium-term indicators suggest near-term gains, the high 1-week cycle reading hints that a longer-term pullback could follow soon.
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